Artificial-intelligence stocks were taking a beating on Monday as investors wondered how much longer Big Tech companies can maintain their aggressive spending plans.
SK Hynix dropped 7.7% ahead of the opening bell, having jumped 13% on Friday in a stellar U.S. trading debut. The memory-chip maker's South Korean shares closed down 15% as investors opted to take some profit following a 500% surge over the past 12 months.
Rival memory-chip maker Micron declined 4.9% and flash-memory product supplier Sandisk fell 6%. Advanced Micro Devices, Intel, Lumentum, Marvell, and Western Digital were among the other AI-linked stocks sliding in Monday's premarket.
These stocks were also making moves:
MGM Resorts rose 2.7% after The Wall Street Journal reported that Barry Diller's People Inc. had been negotiating a deal with the casino operator, citing people familiar with the matter. MGM and People didn't immediately respond to requests for comment from Barron's.
Stellantis climbed 0.9% after the Jeep maker reported a 10% rise in second-quarter vehicle shipments, thanks to strong demand for new offerings in North America.
Taiwan Semiconductor Manufacturing Co. traded flat after the chip manufacturer reported revenue of 442.68 billion New Taiwan dollars ($13.8 billion) for June, notching its best month ever for sales. TSMC is set to report its second-quarter earnings on Thursday.
Write to George Glover at george.glover@dowjones.com
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July 13, 2026 07:17 ET (11:17 GMT)
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