SK Hynix shares crash

SK Hynix shares fell 4.23% to their lowest level since April, extending a seven-session slide that has erased 31% of their value.

AI stock sell-off deepens

Jitters over AI spending, Chinese competition and upcoming corporate earnings have pressured chip stocks and broader Asian markets.

Kospi index drops

The decline also dragged the Kospi Index down 4%, given SK Hynix’s significant weight in the index.

Elice Inc. plunges

Adding to signs of pressure on the AI trade, data center infrastructure company Elice Inc. plunged as much as 33% in its trading debut in Seoul.

SoftBank credit risk rises

SoftBank Group Corp.’s credit risk, as measured by its credit-default swaps, has risen to its highest level in nearly four years.

Chinese competition impacts

Chip stocks have been fluctuating between gains and losses lately but have largely tilted downward amid rising Chinese competition, tight NAND supply, expectations of higher interest rates, and concerns about the sustainability of AI infrastructure…

Nvidia CEO's view

Nvidia Corp.Chief Executive Officer Jensen Huang took a sanguine view, saying, 'All of this is going to pass.'He encouraged investors to look beyond near-term reports and concentrate on the long-term value of the technology.

“All of this is going to pass”