AI Trade Loses Steam as Infrastructure Boom Faces Reality Check

The AI trade in semiconductors and memory stocks is showing signs of fatigue as investors reassess whether heavy spending on chips and data centers can be sustained. Semiconductor and memory names including Micron Technology (MU) and Sandisk (SNDK) came under pressure Tuesday, according to CoinDesk, after Samsung Electronics (005930) posted record second-quarter earnings but missed revenue estimates, with shares falling nearly 7% amid a broader selloff. SK Hynix is down 25% from its all-time high ahead of its U.S. listing this week, while China’s Zhipu AI is exploring a custom AI chip for its open-source GLM models.