SK Hynix, Samsung Tumble Over 7% as CXMT Progress Deepens AI Chip Sell-off

3 articles · Updated · CNBC · Oct 13

SK Hynix sank more than 8% and Samsung Electronics lost 7.9% on Tuesday, hitting their lowest intraday levels since August as a U.S.-led semiconductor sell-off spread across Asia.
Micron’s 3.9% drop on Wall Street helped trigger the move after China’s CXMT reported progress on a denser memory-chip architecture, adding to investor worries about AI competition and stretched valuations.
Japan’s tech complex also slid, with SoftBank down 8.03%, Tokyo Electron off 6.6% and Advantest losing 5.38%, underscoring how broadly AI-linked chip names were hit.
Analysts said the reaction looked larger than the immediate threat because CXMT still lacks proven mass production and remains behind Samsung and SK Hynix in advanced HBM memory.
The sell-off also reflects wider anxiety over whether AI spending can stay funded, with investors now watching corporate earnings and U.S. inflation data for clues on rates and chip demand.