Chip stocks extended their plunge on Monday, with the Philadelphia Semiconductor Index falling as much as 5.9% after Anthropic CEO Dario Amodei issued an AI slowdown warning. Nvidia dropped 3.4%, Broadcom slid nearly 5%, and Micron and AMD each fell more than 4%. South Korea’s SK Hynix also retreated 7.6% in sympathy with its US peers. Bank of America analyst Vivek Arya downplayed the correction as background noise, estimating AI capex could surge threefold to over $3 trillion by decade-end. The sector index has still gained 67% so far in 2026, raising the critical question of whether AI monetization will keep pace with the spending it has already justified.
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