U.S. chip stocks have fallen for eight consecutive sessions, erasing $2 trillion in market value and marking their longest losing streak since 2008.
The Philadelphia Semiconductor Index has fallen for eight consecutive trading days, the longest losing streak since the 2008 financial crisis, due to market doubts about the prospects of AI investment returns. Over the past eight trading days, its market capitalization has evaporated by approximately $2 trillion. This week, the index has cumulatively dropped 11.4%, while the Nasdaq Composite has fallen over 4%. NVIDIA plunged over 6% this week, Micron Technology plummeted 14.6%, and cloud computing service provider CoreWeave's cumulative decline exceeded 25%, with its high-yield bond financing model raising deep market concerns. NVIDIA CEO Jensen Huang remains optimistic, while Cathie Wood increased her holdings in CoreWeave and Cerebras during the downturn.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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