Semiconductor Stocks Slide: AMD -5%, Intel -4%, NVIDIA -3% on AI Spending Concerns

Semiconductor stocks experienced a sharp sell-off Friday, with AMD falling 5%, Intel dropping 4%, and NVIDIA sliding 3% before partially recovering in a volatile session. Investors are increasingly questioning whether the AI spending boom can justify the sector's lofty valuations, with some chip stocks having more than doubled this year.

Why it matters: The rotation also hit Broadcom, Applied Materials, Lam Research, and Micron, reflecting growing skepticism about the sustainability of AI-driven growth after record gains.