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The Economic Times
The Economic Times
Business
Nikhil Agarwal

AI traders behaving like casino gamblers? What made chip trade toxic and why that’s good news for India

Artificial Intelligence Hock Tan India Kospi Semiconductor CXMT Broadcom South Korea Samsung Stock Market

The artificial intelligence trade is showing signs of strain in the very markets that powered its spectacular rise. South Korea’s Kospi index plunged 7.4% on Tuesday as semiconductor shares tumbled after Broadcom CEO Hock Tan warned that AI investors are behaving like casino gamblers. Indian IT stocks, which is seen as anti-AI trade, jumped on the news.

The Kospi fell to 5,914.35, its lowest level since late July, after having crossed 9,000 in June at the peak of the global AI boom. Samsung Electronics dropped 7.7%, while memory-chip maker SK Hynix plunged 8.8%. The sell-off was severe enough for the Korea Exchange to halt program sell orders for five minutes after the KOSPI 200 futures index fell 5.08%.

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