Tech sell-off wipes $1 trillion from top global firms

A sell-off in AI and semiconductor stocks has erased over $1 trillion in market value from 20 major global technology companies in less than five days, driven by interest rate hikes, rising infrastructure costs, and intensifying competition. Chinese chipmaker ChangXin Memory Technologies announced plans to accelerate memory chip production, adding pressure to the market. Elon Musk commented that China will make "a LOT of RAM in 2028," fueling investor anxiety over a potential global memory chip oversupply by 2029. The decline hit firms worldwide, including Nvidia, AMD, Micron, SK Hynix, Samsung, TSMC, and ASML. Analysts cite inflation, higher capital costs, and warnings from Broadcom and Intel CEOs about financing bottlenecks as key factors eroding investor sentiment.