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المشهد العربي
Semiconductor stocks face heavy sell-off
Shares of semiconductor and computing companies declined sharply, with the Philadelphia Semiconductor Index dropping by 6.52% to reach 12,483 points, deepening its losses to 10.14% over five days. The decline was driven by investors’ concerns over a potential decrease in demand for AI hardware following Meta’s announcement of entering the cloud computing market, along with improvements in AI model efficiency by OpenAI, which reduce the need for capital expenditures in chip acquisitions.
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