Memory Chip Stocks Shed $100B as AI Efficiency Breakthrough Unwinds the Shortage Trade

Financial Times·medium signal

Samsung, SK Hynix, and Kioxia lost a combined $100B+ in market cap after Google's TurboQuant announcement spooked investors who had driven memory stocks up 200-300% over the past year on AI-driven shortage expectations. Samsung fell 5%, SK Hynix 6%, and Kioxia nearly 6% in a single session. Analysts at Quilter Cheviot called it profit-taking in a cyclical sector, but the selloff signals that AI efficiency gains could structurally reduce memory demand growth faster than expected.