Chip stocks crash: Intel plunges 30%, AMD drops 12%, Nvidia and Broadcom also slide — what's driving the selloff?

Global semiconductor stocks fell sharply after China’s ChangXin Memory Technologies reported more than sevenfold year-on-year quarterly revenue growth, while disappointing Intel results and Amazon’s elevated spending intensified concerns about returns from AI investment. Intel plunged 30%, AMD and Qualcomm 12%, Broadcom 5%, Nvidia 4.86% and Micron 4%, while Amazon dropped 2% after spending more than $77 billion on property and equipment in the third quarter and forecasting $220 billion for 2026. Intel expects fourth-quarter revenue and profit below expectations, with PC-chip sales down more than 20% sequentially, while Alphabet’s 13% decline added to pressure on the Nasdaq 100.