A sharp selloff swept through semiconductor stocks on Wall Street on Tuesday, wiping out gains across some of the biggest beneficiaries of the artificial intelligence boom as investors reassessed lofty valuations and growing spending across the sector.
Memory-chip makers led the decline, with SanDisk plunging 12%, Micron Technology falling 9%, and AMD dropping 5% in premarket trading. Other chipmakers were also under pressure, with Intel losing nearly 7% and Western Digital sliding about 8%.
