Shares of technology companies gave back some of their recent gains as artificial-intelligence euphoria cooled.
Amazon signed up cloud storage company Snowflake as its latest chips customer, as the proliferation of artificial intelligence agents continues to drive high levels of demand for computing hardware.
The PHLX Semiconductor index fell by more than 1%, but remains up 70% for the year to date, with gains of more than 20% in May alone.
Shares of Micron, SK Hynix and other memory chip makers have catapulted in value in recent weeks, entering the rarefied ranks of companies worth more than $1 trillion in market capitalization.
Samsung Electronics' unionized workers approved a bonus-pay deal reached last week with management.
