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A global rout in semiconductor and other artificial intelligence stocks intensified Friday as investors questioned whether AI spending can justify exorbitant valuations while pondering what a resurgence in oil prices means for inflation and interest rates.
Memory chip stocks were among the biggest decliners Friday. Shares of Taiwan’s TSMC 2330 shed 7% despite second-quarter earnings released Thursday that analysts deemed strong, while Europe’s BE Semiconductors BESI and STMicroelectronics STMPA both lost more than 5%. In the US market, Micron Technology MU, SanDisk SNDK, and Intel ITNC were all seen sharply lower.
From 2026 to 2029, it can be seen as “AI Wave 1”, where AI servers, infrastructure and system integration are expected to grow very fast. After 2030, “AI Wave 2” is likely to focus more on improving efficiency. This is where SiC and GaN power solutions could become even more important, putting MPI in a good position to benefit from its strong experience and expertise in wide-bandgap technologies