全球芯片股因美债利率上行、通胀超预期引发AI开支放缓担忧而普跌，但属于已发生的宏观risk-off行情综述

Chip stocks fell across global markets on Thursday as rising borrowing costs stoked concerns that AI infrastructure spending could slow, putting pressure on companies that have benefited from the investment boom. South Korea’s SK Hynix ( SKHY ) plunged 11%, while Samsung Electronics ( SSNLF ) fell 8%. In Japan, shares of technology-focused investment giant SoftBank Group ( SFTBF ) ( SFTBY ) fell 9.3%. European semiconductor stocks also fell, with ASML Holding ( ASML ) down 6% and STMicroelectronics ( STM ) -6.2%. Nokia, which makes networking gear, dropped 4.7%. In U.S. premarket trading, Micron Technology ( MU ) fell 4%, Sandisk ( SNDK ) dropped 4.8%, while Seagate Technology ( STX ) and Western Digital ( WDC ) lost 4.4% and 4.5%, respectively. The weakness extended across the broader chip sector, with Nvidia ( NVDA ) down 1.7%, Advanced Micro Devices ( AMD ) off 3.1%, Broadcom ( AVGO ) lower by 1.6%, and Intel ( INTC ) plunging 3.6%. Qualcomm ( QCOM ) fell 1.8%, Marvell Technology ( MRVL ) declined 3.4%, and Texas Instruments ( TXN ) shed 1%. U.S. AI infrastructure and semiconductor equipment stocks also traded lower. Cerebras ( CBRS ) slipped 3.6%, CoreWeave ( CRWV ) fell 6.2%, Nebius ( NBIS ) lost 4.3%, and Super Micro Computer ( SMCI ) declined 3.2%. Lam Research ( LRCX ), Applied Materials ( AMAT ), and KLA ( KLAC ) fell 2.9%, 2.8%, and 2.3%, respectively. The sell-off followed Wednesday’s Wall Street losses, as hotter-than-expected U.S. inflation fueled concerns that the Federal Reserve could raise interest rates further. The tech-heavy Nasdaq Composite and Nasdaq-100 both fell 2% on Wednesday. Separately, Anthropic’s ( ANTHRO ) revenue growth failed to reassure investors increasingly concerned about the sustainability of AI spending. The company reported $16.8B in third-quarter revenue, equivalent to a $67.2B annualized run rate, Bloomberg News reported. That marked only modest growth from Anthropic’s $65B annualized revenue run rate at the end of July. Investors have become more sensitive to signs of slowing growth at leading AI labs, with chip stocks also sliding last week amid confusion over OpenAI’s ( OPENAI ) annualized revenue. Furthermore, financing concerns among neocloud companies have also intensified, highlighted by Wednesday’s plunge in CoreWeave shares and bonds. Elsewhere, Taiwan Semiconductor Manufacturing ( TSM ), down 2.1%, kept its 2026 capital expenditure guidance unchanged and refrained from providing a spending outlook for 2027. Semiconductor ETFs: ( SMH ), ( SOXX ), ( SOXL ), ( FTXL ), ( XSD ), ( USD ), ( PSI ), and ( SEMI ).