Chip Stocks Slide as AI Spending Doubts Grow

The AI trade is facing a tougher test as chip stocks sell off, Korean markets tumble, and investors question whether the massive spending behind artificial intelligence can keep delivering returns.

Mike Armstrong and Paul Lane break down why semiconductor stocks are under pressure, how Nvidia’s potential financing backstop for OpenAI is raising concerns about circular funding, and why China’s CXMT debut could threaten profit margins across the memory chip industry. They also discuss the sharp drop in Samsung and SK Hynix, the leverage risks building in Korea’s retail trading market, Apple crossing a $5 trillion valuation, and why Kevin Warsh’s upcoming Fed decision could be one of the most uncertain meetings investors have faced in years. Plus, they look at falling oil prices, stubborn gasoline costs, and why the starter home has become increasingly difficult to find in New England.