Semiconductor stocks tumbled in early October 2026, with the Philadelphia Semiconductor Index falling approximately 3.4% on October 8. The trigger was OpenAI’s annualized revenue run rate approaching $50 billion, against market expectations of around $70 billion, representing a $20 billion gap. Intel dropped 5.3%, Micron fell 4.8%, Broadcom lost 4.3%, and Nvidia declined nearly 3%. TSMC reported record third-quarter revenue of $46.7 billion, up 50% year-on-year, but the reception was cautious. CEOs of Broadcom and Intel warned that capital access and rising financing costs could constrain the AI infrastructure buildout.
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