Business · Markets · 2 hrs ago
US chip shares fall as investors question AI spending and await bank results
US futures were mixed as chip shares kept falling on Tuesday, while investors prepared for major companies to report earnings.
The pressure followed a sell-off in chipmakers that began on Monday and spread across Asian markets.
Samsung Electronics and SK Hynix shares fell sharply, helping push Asia’s main stock index to its lowest level since August.
A report that China’s CXMT had advanced work on memory technology also being developed by the two companies added to concern.
Investors are questioning whether AI spending can continue at its current pace, amid worries about security and tighter financing.
Nasdaq-100 futures fell, while S&P 500 futures were nearly unchanged and Dow futures rose.
JPMorgan, Goldman Sachs, Citigroup and Wells Fargo were due to report results before US markets opened, giving investors more information about the health of major banks.
US chip shares fell as investors questioned whether spending on artificial intelligence can be sustained.
The sell-off began on Monday, 12 October, and continued in Asian chip stocks on Tuesday.
A report that Chinese company CXMT had advanced memory technology development added pressure on Samsung Electronics and SK Hynix.
Nasdaq-100 futures fell about 0.6%, while a semiconductor-focused exchange-traded fund was heading for a sixth consecutive day of losses.
Investors were also preparing for quarterly results from major US banks, including JPMorgan and Goldman Sachs.
- Who
- Chip makers including Samsung Electronics and SK Hynix faced selling, while investors reassessed AI spending.
- What
- Chip shares fell amid questions about the sustainability of AI investment and concerns about financing and security.
- When
- The sell-off began on Monday, 12 October, and continued on Tuesday, 13 October.
- Where
- The selling affected US and Asian chip markets.
- Why
- Investors questioned whether the pace of AI investment could be sustained; a report about CXMT’s memory technology also weighed on Asian chip makers.
This story does not have two clearly opposing sides.
A sell-off in chip-maker shares began.
Broadcom’s chief executive said many AI investors had little understanding of what they were betting on.
Selling in major Asian chip makers intensified after a report said China’s CXMT had advanced development of memory technology also being worked on by Samsung and SK Hynix.
- Nasdaq-100 futures
- Down about 0.6%
- Semiconductor ETF
- Heading for a sixth consecutive day of losses
- CXMT
- Chinese company reported to have advanced memory technology development
- US bank results
- JPMorgan, Goldman Sachs, Citigroup and Wells Fargo expected to report before Tuesday’s market open
- Date
- 13 October 2026
Sources
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