The analysis indicates that global semiconductor stocks are experiencing a sell-off, with investors concerned that major artificial intelligence (AI) hyperscalers may not see sufficient returns on their investments in AI data centers and infrastructure. This could lead to a reduction in AI capital expenditure, thereby lowering the strong demand for semiconductor and memory chips. Since June 22, TSMC has fallen by approximately 13.8%, ASML Holding of the Netherlands by about 14.4%, NVIDIA by approximately 6.4%, and the iShares MSCI South Korea ETF by 26.4%. The iShares Semiconductor ETF (SOXX) also declined by about 22.9% during the same period.