Sandisk’s AI rally stalls as chip wipeout hits $1.3 trillion
Sandisk plunged 11.4% to $1,559.32 after the PHLX Semiconductor Index suffered its worst day since March 2020, wiping $1.3 trillion from U.S. chipmakers as investors questioned AI storage demand durability and supply-cycle risks despite Sandisk’s record data-center revenue and $42 billion in long-term deals.