Economic TimesLean R·
US chip stocks slide as China’s CXMT advances; AI spending fears rattle investors
Shares in US chip manufacturers tumbled, primarily influenced by memory and data storage firms, following competitive moves from China's CXMT. The sector faced significant pressure, stemming from concerns over escalating rivalry and demands for AI investments. Key players like Micron Technology, Seagate Technology, SanDisk, and Western Digital saw notable declines in their stock prices.
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