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Micron’s unusually sharp decline came amid broad selling in chip and memory stocks. It held up better than related stocks Thursday, but that relative resilience offers limited comfort after a 20% drop over the past 21 trading days.
Nvidia’s unusually sharp selloff deepened an existing retreat as related chip and cloud stocks also fell. A report highlighting scarce funding at specialist cloud providers may have added to concerns about how quickly strong AI demand can translate into hardware purchases.
Heavy selling continued after a lower open, leaving SpaceX near the session low and more than reversing Wednesday’s gain. A filing released after the close shows AI leading revenue, but connectivity generating most operating profit as infrastructure spending accelerates.