US chip stocks fall as rate-hike fears raise AI spending concerns

Western Digital

15/10/2026 13:31

 ** US semiconductor shares fall premarket, as rising bond yields and Fed rate-hike concerns threaten to raise borrowing costs and curb AI infrastructure spending
** Philadelphia Semiconductor Index .SOX declined 4.3% to its lowest level in about a month in the prior session; stock has been declining since October 7
** Micron MU.O down 4.3%, Western Digital WDC.O down 5.6% and Sandisk SNDK.O down 5.3%
** Nvidia NVDA.O slips 1.7%, Broadcom AVGO.O slides 1.6%, Intel INTC.O down 3.8%, Qualcomm QCOM.O falls 1.8% and Advanced Micro Devices AMD.O down 3.4%
** Media reports this week that Chinese memory chipmaker CXMT has made "key progress" on a new cell architecture aimed at increasing memory density also pressured global chip stocks
** Despite the selloff, the Philadelphia chips index remains up about 65% so far this year, supported by expectations for strong AI-related demand

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