AI-linked chip stocks attempt a comeback after Thursday's rout

Marvell Technology

Today 11:11

** US AI-linked chip stocks bounce back premarket after Thursday's sharp selloff
** Marvell MRVL.O, Applied Materials AMAT.O and Intel INTC.O up in the range of 5% to 7.4%
** Nvidia NVDA.O up 4.3%, and peer Advanced Micro Devices AMD.O climbs 7.2%
** Lam Research LRCX.O and Credo Technology CRDO.O among the biggest gainers, up 10.15% and 9.7% respectively 
** Memory-chip maker Micron MU.O up 8.1% 
** Data-storage cos Western Digital WDC.O and Sandisk SNDK.O add between 5.5% and 8.9%
** About $2.5 trillion of the tech-heavy Nasdaq 100 Index's .NDX market value evaporated on Thursday 
** "The AI story has all been about speed, and now there is a danger of it moving to a lower gear, and some of the wheels falling off," says Dan Coatsworth, head of markets at AJ Bell, commenting on the impact of the Democratic sweep
** While concerns over excessive spending were already straining the industry, the Democrats' midterm triumph delivered the coup de grâce, triggering a steep selloff
** The Philadelphia SE Semiconductor Index .SOX fell over 12% on Thursday, touching its lowest level in over six months 
** As of last close, SOX up over 27% YTD

 (Reporting by Jayasree Prabhu)
 ((jayasree.prabhu@thomsonreuters.com))