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Asian chip stocks sold off today, pushing South Korea’s Kospi index 10% lower and Japan’s Nikkei 4% in the red. That followed a tough session for U.S. chipmakers that looks set to extend to today, with Intel, Micron and others sliding premarket.
↘️ Samsung (KR:005930), SK Hynix (KR:000660, SKHY): Shares in both chipmakers dropped more than 13% as part of a broader selloff amid mounting doubts over the AI boom. Over in the U.S., Micron Technology (MU), Intel (INTC) and other chip stocks are also sliding premarket.
Nvidia is on track to fall for a third straight day.
<body><p>STORY: :: Why are Asian chip stocks tumbling amid new competition from China?</p><p>:: July 28, 2026/Singapore</p><p>:: Gregor Stuart Hunter/Market Correspondent</p><p>"So the market has a new chip champion this week and it's CXMT, which raised $8.6 billion in a listing in Shanghai on Monday and then promptly rallied almost 500%, vaulting it into the ranks of some of the biggest companies on earth. It's now the biggest listed company in mainland China. It's bigger than MasterCard, it's bigger than Intel."</p><p>"So why are Asian chip stocks tumbling amid this new competition from China? It really boils down to the arrival of this new entrant in the market that, first of all, has just raised a load of capital to expand, and second of all if you're an investor and you like the chip theme, you probably own a lot of Asian chip makers to begin with. So if you want to buy CXMT's shares, you're gonna have to make room for something in the portfolio, which probably means dumping Samsung or SK Hynix or TSMC or another name like that. And that's ultimately why the market seems to be having such trouble digesting this new arrival."</p><p>"But for now, they'll have to wait as it's listed in Shanghai, that means most global investors won't have immediate access to the stock."</p><p>:: How does Apple's lobbying fit into this?</p><p>"So Apple has been asking the Trump administration reportedly for a bit of leeway in terms of what memory it can use in its products. Remember that Apple recently had to hike prices across a range of its devices, principally because the cost of memory is getting so high because it's also competing with the AI industry for memory chips. On the other hand, a US company like Micron is quite keen to keep Chinese memory out of US supply chains, so is putting equal amounts of pressure in the opposite direction. The Trump administration is caught in the middle."</p><p>:: Is the AI-driven semiconductor rally sustainable?</p><p>"A lot of investors have been worried about a question that essentially boils down to how much debt is being racked up by the tech sector to fund its build out of AI tools. And more importantly, how is that gonna be paid back?"</p><p>"We'll get some indication from the big tech companies this week as to how that expansion is going. We've got earnings coming up from Meta, Microsoft, Amazon, and Apple, as well as some of TSMC suppliers. And they should give us an indication of how much capital expenditure they expect. How much more money, in short, are they gonna keep putting into AI throughout the next few years?"</p></body>
U.S. chip stocks are struggling as a result of fragile investor sentiment ahead of U.S. hyperscaler earnings this week, UBS's Mark Haefele wrote. Microsoft and Meta report earnings Wednesday, before Apple and Amazon report Thursday.
Investing.com -- U.S. chip stocks extended losses in premarket trading Tuesday, building on Monday’s declines after a broad selloff swept through Asian semiconductor names overnight as investors pulled back from AI-linked stocks amid growing worries about how the industry’s infrastructure buildout is being financed and rising competitive pressure from China.
July 28 (Reuters) - Nasdaq futures fell on Tuesday, mirroring a cautious mood across global markets toward AI chip stocks on concerns about hefty corporate spending and rising Chinese competition,
CXMT stock surged over 5x on its debut in Shanghai.
Intel's revenue growth just reached levels not seen in more than a decade.
SINGAPORE, July 28 (Reuters) - Asian markets fell on Tuesday led by chipmakers on unease about the massive funding demands of the AI boom, while a slide in oil prices did relatively little to lift
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Intel said 2026 capital expenditures will rise above $20 billion, with 2027 spending expected to be even higher, as the company invests to address tight capacity and AI-driven demand in its foundry business.
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Intel's improving growth trajectory indicates that the stock can sustain its rally over the next three years.
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Intel reported blowout numbers in the second quarter of 2026.
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The shares were up 0.5% to $207.86 in premarket trading, after falling 0.9% in the previous session. Nvidia has missed out on the chip rally this year, up just 11% compared with the (SOX) 67% rise — the index that tracks the 30 biggest U.S.-listed companies connected to semi’s. That’s started to change recently, though—the stock is up 3% in July, while the SOX is down 17%. OpenAI and Nvidia did not immediately respond to a request for comment.
U.S. stocks ended mixed on Friday, with the Nasdaq ending in the red, triggered by a tech selloff on growing concerns over the massive spending on AI, as investors awaited quarterly results from the next batch of megacap tech companies.
LCY could accelerate growth after KKR's planned exit, with larger U.S. investments under consideration.
Zacks.com users have recently been watching Intel (INTC) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
The chip company is looking to increase its 2026 capital spending by about $3 billion to improve manufacturing and packaging as it navigates a tight supply environment.
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