US chipmakers lose 1 trillion dollars in market value
The PHLX chip index fell nearly 8.5 percent on Friday as investors reacted to a disappointing quarterly report from Broadcom and stronger than expected jobs data. Major firms including Nvidia and Micron saw significant declines as market participants reassessed high tech valuations.
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United States chipmakers lost over $1 trillion in market value on June 5 as a sector-wide selloff erased gains in AI leaders. The PHLX chip index slumped 8.5% during Friday afternoon, its sharpest one-day decline since April 2025. The selloff followed a quarterly report from BROADCOM INC that showed custom AI chip demand falling short of expectations.
