With Chips / semis (SOXX) down 3.7%, this looks like a sector-led move rather than a company-specific surprise.
A global sell-off has hit semiconductor stocks, driven by growing investor anxiety that the recent boom in Artificial Intelligence infrastructure spending may be unsustainable. These concerns were intensified by a recent slowdown in revenue growth at AI startup Anthropic. [4] This industry-specific pressure is being compounded by macroeconomic fears after a higher-than-expected U.S. inflation report sparked concerns of further interest rate hikes, which could dampen future investment and valuations across the tech sector. [5, 6, 10] The sell-off is widespread, impacting chipmakers in the U.S., Asia, and Europe. [3, 5]