From Financialexpress · Anjana PV · Nov 5, 2026 · 1m 40s

Chip Stocks Crash After AI Spending Woes

Nasdaq loses $1 trillion as election fears hit AI infrastructure spending.

In brief

Nasdaq loses $1 trillion as election fears hit AI infrastructure spending. US chip stocks dropped over $2 trillion in market value after election concerns about AI infrastructure spending. Originally reported by Financialexpress.

#ai infrastructure #nasdaq #semiconductor stocks #election impact #ai spending #chip stocks #semiconductor companies #data centres #qualcomm #amd #broadcom #business

Chip Stocks Slide

US chip stocks witnessed a sharp sell-off today with major semiconductor companies losing billions in market value.

Semiconductor Index Plunges

Philadelphia Semiconductor Index dropped 11% putting it on course for worst single-day performance since March 2020.

Biggest Losers

Nvidia fell 6%, Broadcom declined 6%, AMD dropped 12%, Qualcomm lost 13.5% and Micron Technology fell 10%.

Nasdaq Composite Drops

Nasdaq Composite fell 3.9% while S&P 500 declined more than 3% during the session.

Market Value Wiped Out

The sell-off wiped out more than $2 trillion in market value from the S&P 500.

Election Impact

Investors shifted focus to election results affecting AI infrastructure spending and data centre development.

AI Infrastructure Concerns

Rapid expansion of AI infrastructure could slow after election results with political opposition to data centres.

Data Centre Pressure

Nebius shares fell 13%, CoreWeave declined 9% and data centre operators IREN and Applied Digital recorded steep losses.

Memory Stocks Fall

SanDisk shares fell 15%, Western Digital declined 13%, Seagate lost 12% and Micron Technology dropped 10%.

Qualcomm Outlook

Qualcomm shares declined 13.5% after reporting weaker than expected smartphone chip sales.

AI Stock Correction

Macro Research Board warned the ai stock correction could continue with investors questioning excessive profit estimates.

Market Correction

Nasdaq Composite traded more than 10% below its October record, entering correction territory.

What it means

US chip stocks dropped over $2 trillion in market value after election concerns about AI infrastructure spending.

Read the original on Financialexpress

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