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Global tech stocks have plunged after China achieved a breakthrough in developing technology crucial to the AI boom.

Investor jitters over how long the artificial intelligence spending boom will last and concern over Chinese competition in chipmaking sent technology shares plunging Tuesday."The first leg of the artificial-intelligence boom was financed with cash, confidence and some of the strongest balance sheets in corporate America," wrote Stephen Innes at SPI Asset Management.

Global tech stocks plunged after China achieved a breakthrough in developing machinery crucial to the AI boom.

South Korea's Kospi index plunged more than 10% on Tuesday morning as chipmaking stocks came under heavy selling amid renewed concerns over whether the artificial intelligence boom can be sustained.View on euronews

SK Hynix fell 13% as Nvidia's OpenAI bet, China's CXMT listing, and AI capex doubts hit chip stocks with more volatility.

South Korea’s Kospi index plunged more than 10% on Tuesday on heavy selling of chipmaking stocks that have gyrated recently due to concerns over the sustainability of the boom in artificial intelligence. Oil prices fell more than 1%, while U.S. futures were little changed. Trading was temporarily halted as Kospi dropped to its lowest level since April as shares in chipmakers Samsung Electronics and SK Hynix dropped sharply.

The Direxion Daily South Korea Bull 3X Shares is declining amid a sharp selloff in chip stocks globally, including in South Korea.

South Korean and Japanese tech took another battering Tuesday, leading losses across most Asian stock markets, as a report of a breakthrough in China's chip industry compounded growing worries about the longevity of the AI boom.There were also losses across most other markets, though Hong Kong was the standout as its tech firms enjoyed some much-needed buying following a painful first half of the year.

SINGAPORE, July 28 (Reuters) - Asian markets fell on Tuesday led by chipmakers on unease about the massive funding demands of the AI boom, while a slide in oil prices did relatively little to lift

KOSPI dives 8% as the AI chip selloff spreads to Asia a day before SK Hynix earnings and Big Tech reports.

South Korea's top financial regulator said on Tuesday that authorities would ‌consider a cap on single-stock leveraged exchange-traded ‌funds (ETF) investments for retail investors if needed, local media reports ​said. Lee Eog-weon, chairman of the Financial Services Commission, told a meeting with local brokerages and asset managers in Seoul that the regulator would review and ‌prepare additional measures ⁠to curb the demand for the ETF products, such as putting a cap ⁠on total value of investments for each individual.

South Korean chip stocks slumped on Tuesday, with Samsung Electronics and SK Hynix falling as much as ‌9.5% and 10.9%, respectively, as investors dumped AI-related bets amid mounting concerns ‌over financing risks tied to AI infrastructure spending and intensifying competition from China. SK Hynix's U.S.-listed shares had ​already slumped overnight, closing at $143.02, below their initial public offering price of $149. The benchmark KOSPI was trading down 7.3% as of 0032 GMT.

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0014 GMT — Japanese stocks are lower in early trade following overnight drops in U.S. technology stocks. Uncertainty over the Iran conflict is also weighing on the market. Investors are closely watching crude oil prices and developments in the Middle East after Saudi Arabia said it had intercepted drones that Iran-backed militias in Iraq had launched at the kingdom’s oil facilities.

(Bloomberg) -- A $470 billion rout in just a little over a month has flipped SK Hynix Inc. from one of the world’s hottest AI trades to one of the biggest portfolio question marks.Most Read from BloombergNvidia’s $750 Billion in Deals Reignite Circular AI FearsDeepSeek Suspends Fundraising After Viral US-China PostsS&P 500 Wobbles as AI Angst Offsets Oil Decline: Markets WrapChina Chipmaker CXMT Jumps 466% in Debut After Blockbuster IPOASML Slides on Report of China Starting DUV Tool ProductionS

Korean stocks have been wildly volatile in recent months–and leveraged ETFs deserve some of the blame. SK Hynix and Samsung have emerged as major beneficiaries of the AI-driven memory chip shortage, leading to meteoric rises. Korean regulators approved single-stock leveraged ETFs for SK Hynix and Samsung after seeing the success of similar products on Hong Kong and U.S. exchanges.

Wedbush expects stronger CPU and GPU revenue as new AI partnerships support demand.

Memory-chip stocks Micron and SK Hynix fell Monday after Chinese rival CXMT rocketed in its IPO on the Shanghai Stock Exchange.

Even after rebounding the past week, the Kospi index is down 25.9% from its record close on June 22.

Samsung's $200 Billion Deal Gives Broadcom Stock a Powerful AI Boost

China's biggest memory chipmaker, ChangXin Memory Technologies (CXMT), is surging in its IPO on the Shanghai Stock Exchange. Yahoo Finance Technology Editor Dan Howley explains what investors should know about emerging Chinese competition in the tech space.

High-bandwidth memory — the specialized chips powering Nvidia Corp.’s latest AI accelerators — appears set to remain dominated by established leaders such as Micron Technology Inc. (NASDAQ:MU), SK Hynix Inc. (NASDAQ:SKHY) and Samsung Electronics Co. Ltd. (NYSE:SSNLF) for years. China, however, is making rapid progress in commodity DRAM and NAND. That’s according to Counterpoint Research analyst MS Hwang, who told Benzinga in an interview that “Chinese vendors are catching up quickly in commodity

Sometimes three’s a crowd. But when it comes to the memory boom there’s room, and plenty of demand, for more chip makers.

Broadcom will receive the bulk of its memory needs from Samsung through 2030, according to J.P. Morgan.

SK hynix (NASDAQ:SKHY) shares jumped 6. 2% in pre-market trading to $164.

The collaboration aims to accelerate development and supply of semiconductor solutions required for next-generation AI infrastructure.

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Sometimes three’s a crowd. But when it comes to the memory boom there’s room, and plenty of demand, for more chip makers.

Investing.com -- Bernstein has reiterated its bullish stance on memory chipmakers following a wave of multibillion-dollar partnerships announced at an AI Summit hosted by the South Korean government in San Francisco on Friday, where Samsung, SK Hynix, Nvidia and Broadcom unveiled new agreements spanning memory, foundry and AI data centers.