Chip stocks slide after Broadcom boss likens AI investing to ‘casino’
Asian markets fall and Samsung shares tumble after its Chinese rival CXMT claims strong progress Business live – latest updates Shares in semiconductor companies fell on Tuesday after the boss of Broadcom compared many AI investors to “casino” gamblers, and Chinese memory chip maker CXMT said it had made good progress on a new chip architecture. South Korea’s benchmark Kospi index tumbled 6.25% as investors dumped chip stocks, while other Asian markets were also lower.
Japan’s Nikkei fell 1.8% and the Taiwan exchange lost almost 2%, with the country’s chip maker TSMC down by a similar amount.
Read in depth: Business
US diesel costs squeeze freight firms as New Zealand petrol tops NZ$4 a litre
Federal Reserve district accounts describe pressure on US trucking margins and grocery transport costs, while RNZ reports a sharp rise in New Zealand pump prices.
Tesla Roadster flight demonstration sparks memes and regulatory questions
Tesla showed an unoccupied Roadster leaving the ground at a Texas test facility. Online jokes followed, while aviation experts raised questions about operating such a vehicle.
Sources and context
The GuardianSource headline and summary supplied via NewsData.io. First collected by NewsJaws on 2026-10-13. This is an automated news brief, not original NewsJaws reporting. Dates reflect the source publication. Feed delays may apply.