Asian Tech Stocks Tumble as US AI Sell-Off Hits SoftBank, TSMC and Kioxia
Updated
Updated · CNBC · Jul 17
Asian Tech Stocks Tumble as US AI Sell-Off Hits SoftBank, TSMC and Kioxia
3 articles · Updated · CNBC · Jul 17
Summary
SoftBank fell 9.2%, Tokyo Electron lost 9% and Advantest slid 9.4% on Friday as a fresh U.S. semiconductor rout spread across Asian tech shares.
TSMC dropped 3.64% even after raising its 2026 capital spending outlook to $60 billion-$64 billion from $52 billion-$56 billion, with investors instead fixating on whether AI infrastructure spending is becoming too hard to justify.
Kioxia plunged more than 14% after a Texas jury ordered it to pay $229 million in damages for infringing a Viasat patent tied to computer memory technology.
U.S. pressure set the tone overnight: the Nasdaq fell 1.47%, the VanEck Semiconductor ETF nearly 4%, and Arm, Micron, AMD and Broadcom all lost more than 5%.
The latest slide extends a broader reversal in AI-linked stocks after months of outsized gains, as investors unwind crowded momentum trades and question whether lofty valuations can hold.