In retail trading, the Seoul Stock Exchange’s Kospi index plunged almost 6 percent, with sharp declines in heavyweights such as Hynix, which fell nearly 10 percent.
The decline in the chip sector was partly triggered by comments from Broadcom CEO Hock Tan during an appearance in Singapore. Tan criticized both AI investors and the companies that have invested huge sums.
A large number of investors have no idea what they are investing in. They have extremely high expectations; it’s almost as if they were in a casino, he says.
Broadcom develops and supplies semiconductors and software and is now one of the world’s ten largest companies by market value.