Are Companies Reducing AI Spending? Chip Orders Say Otherwise

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Investors keep selling chip stocks. The iShares Semiconductor ETF fell 11.8% last week. It has now declined for nine straight days—its longest losing streak since 2006. The damage was worse among the companies that build chipmaking machines and memory. Applied Materials Inc. fell 19.3%, Lam Research Corp. dropped 17.2% and Micron Technology Inc. lost 14.6%. The fear behind the selling had a simple shape. The artificial intelligence boom might be running out of buyers. Don't Miss: A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and why Still Learning the Market?