“When there’s panic, no one wants to be the last one in a selloff, so the selling pressure increases. With the start of reporting, the suspicion of overvaluation has been confirmed and will continue for a bit.”

AI chip stocks lost over $1 trillion in market value in July 2026 as custom silicon from OpenAI, Amazon, and Cerebras challenges Nvidia's GPU dominance.

(Bloomberg) -- A selloff in chipmakers dragged down stocks amid concerns over whether massive artificial-intelligence investments will justify lofty valuations, with a resurgence…