# Chip Stocks Crash After AI Spending Woes

> Nasdaq loses $1 trillion as election fears hit AI infrastructure spending.
- Title: Chip Stocks Crash After AI Spending Woes · Financialexpress
- Summary: Nasdaq loses $1 trillion as election fears hit AI infrastructure spending. US chip stocks dropped over $2 trillion in market value after election concerns…
- Keywords: ai infrastructure, nasdaq, semiconductor stocks, election impact, ai spending, chip stocks, semiconductor companies, data centres, qualcomm, amd, broadcom, Financialexpress
- Source: Financialexpress — https://financialexpress.com/market/global-markets/chip-stocks-get-hammered-what-triggered-the-1-trillion-ai-wipeout-on-nasdaq/4378159
- Author: Anjana PV
- Published: 2026-11-05T18:05:16+00:00
- Read time: 1 min
- Topics: 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.
## Key takeaway

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