Chip Stocks Tumble as AI Pacing Call Reaches Beyond Memory: Intel Drops 7%, AMD Sinks 6%, NVIDIA Pulls Back
Intel's 7% drop and AMD's 6% decline outpace NVIDIA's 3% pullback, indicating a positioning unwind instead of a demand shift. The sell-off is specific to the chip sector, rather than a broader Nasdaq retreat. While NVIDIA made the cut in a list of top stocks to buy, chip stocks are sliding in early Monday trading following an AI pacing appeal over the weekend that extended beyond memory suppliers to logic and accelerator names.
Intel is falling the hardest, followed by AMD, and NVIDIA the least. AMD's performance is highlighted as the standout of the session, with a year-to-date gain of 127% despite the profit-taking. NVIDIA CEO Jensen Huang mentioned that AI has reached its inflection point, while AMD CEO Lisa Su stated that the company's AI revenue guide for Q3 2026 is $13 billion3 billion, with data center revenue last quarter at $89.02 billion.
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