Advanced Micro Devices's shares fell about 6 per cent on Wednesday as analysts raised concerns that the chip designer's targets for an artificial intelligence (AI) ramp-up may be too ambitious. The fall came amid a broader sell-off in the tech sector that saw megacap stocks fall 1.5 per cent to 5 per cent
The fall came amid a broader sell-off in the tech sector that saw megacap stocks fall 1.5% to 5% and the Philadelphia SE Semiconductor Index drop 3.5%. AI has been a key theme in the chip sector so far this year, driving shares of chip companies and helping Nvidia become the first and only semiconductor firm to be valued at more than a trillion dollars. Investors hope AMD will emerge with a challenger chip to Nvidia's most powerful AI semiconductors and help in fulfilling strong demand for chips that can power applications like chatbot ChatGPT.
Qualcomm forecasts sales below estimates as smartphone slump persists reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
AMD shares fall as analysts worry AI chip targets may be ambitious biztoc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biztoc.com Daily Mail and Mail on Sunday newspapers.
Japan s Nikkei share average
fell on Friday, as the tumble in chip-related shares accelerated
tracking a sell-off in U.S. peers. Domestic semiconductor industry giants, Tokyo.