Micron Technology slid without a clear catalyst
It was a risk-off day for AI infrastructure: most of the stocks we follow fell. Power, construction and cloud names outperformed chips. That usually means investors see the physical build-out (electricity, buildings) as the slower, more durable bottleneck. The strongest part of the chain was Raw materials; the weakest was Memory & storage. The wider market fell 4.4%, so part of the move was simply the market.
Key highlights
- Neoclouds, bonds & AI financingDow Jones Futures Fall, AI Stocks Nvidia, Sandisk, CoreWeave, SpaceX Bounce After Nasdaq Dives 5.5%NVDA -9.3%SNDK -22.3%
- AI chips & foundryMicron Shares Suffer Brutal 17% Rout as Chip Selloff DeepensMU -17.5%
- AI models & applicationsPalo Alto Networks in talks to buy AI agent security startup Clutch for $500MPANW -9.6%
- Memory & storageAsia’s Chip Stocks Crashed Overnight, With SK Hynix Down 11.7% And Taiwan Off More Than 8%. Now Nasdaq Futures Are Pointing HigherSK hynix -9.5%
- Power & gridBloom Energy Sinks 16% Despite 900 MW NTT DATA Deal as Midterm Fears Hit AI Power StocksBE -16.4%
- Policy & regulationSeagate Sinks 16% as Lawmaker Urges “A Pause on Advanced AI Development”STX -16.2%
Markets
The S&P 500 fell 4.4%, the Nasdaq 100 fell 6.5% and chip stocks lagged (-11.2%). Asia had a sell-off: KOSPI -6.0%, Taiwan TAIEX -4.5%, Nikkei 225 -6.0%, Hang Seng -1.3%. In Korean memory, SK hynix fell 9.5% and Samsung -7.6%. The US 10-year yield fell 6bp to 4.84%; oil +0.5%, VIX 26.9.
US
Asia
Rates & macro
The AI chain today average move · day / week
AI chips & foundry -12.2%
Chip stocks -12.2% on the day (0 of 40 up), -22.9% on the week. ASE lagged (-20.8%).
Chip Substrates -9.4% Stood out today
Chip Substrates stocks -9.4% on the day (0 of 4 up), -20.2% on the week. Ibiden lagged (-16.3%).
Chip Testing & Burn-in -17.1% Stood out today
Chip Testing & Burn-in stocks -17.1% on the day (0 of 5 up), -24.9% on the week. Cohu lagged (-20.6%).
Memory & storage -14.8%
Memory and storage stocks -14.8% on the day (0 of 7 up), -28.6% on the week. SanDisk lagged (-22.3%).
AI storage (SSD & HDD) -17.2% Stood out today
Storage stocks -17.2% on the day (0 of 4 up), -35.0% on the week. SanDisk lagged (-22.3%).
Optics & networking -13.0%
Optics and networking stocks -13.0% on the day (0 of 19 up), -24.6% on the week. AXT lagged (-22.8%).
Servers, racks & components -10.4%
Server and component stocks -10.4% on the day (0 of 27 up), -20.9% on the week. Power Integrations lagged (-17.0%).
Power & grid -6.0%
Power and grid stocks -6.0% on the day (1 of 50 up), -12.1% on the week. CATL led (+4.4%) and Bloom Energy lagged (-16.4%).
Data centers, cooling & build speed -9.7%
Data center, cooling and builder stocks -9.7% on the day (0 of 22 up), -19.9% on the week. IREN lagged (-16.9%). The news was mostly about new capacity and spending.
Hyperscalers & AI spending -3.8%
Hyperscaler stocks -3.8% on the day (0 of 5 up), -2.6% on the week. Oracle lagged (-6.9%).
Neoclouds, bonds & AI financing -13.4%
Neocloud stocks -13.4% on the day (0 of 5 up), -27.5% on the week. IREN lagged (-16.9%).
AI models & applications -7.6%
AI software and security stocks -7.6% on the day (3 of 35 up), -16.0% on the week. MDA Space led (+2.2%) and AST SpaceMobile lagged (-15.2%).
Robotics & physical AI -4.2%
Robotics stocks -4.2% on the day (8 of 45 up), -8.3% on the week. Xiaomi led (+8.8%) and Red Cat lagged (-14.9%).
Materials -2.3%
Materials stocks -2.3% on the day (9 of 25 up), -6.2% on the week. Pilbara Minerals led (+8.8%) and AXT lagged (-22.8%).
Policy & regulation
Rules, taxes and local politics are now a regular part of the build-out story.
Data & what's coming
- H100 rental price: +0.0% over 7 days.
Next 7 days
- 11-06EarningsMitsubishi Heavy Industries (7011.T)
- 11-06EarningsOklo (OKLO)
- 11-06EarningsVistra (VST)
- 11-09EarningsQuanta Computer (2382.TW)
- 11-09EarningsAjinomoto (2802.T)
- 11-09EarningsAST SpaceMobile (ASTS)
What it means for stockholders
Memory. Memory lagged (-14.8%). One weak day doesn't change a tight HBM market; watch contract prices, not the tape.
Rotation. Money rotated into materials (-2.3%) and out of ai storage (ssd & hdd) (-17.2%). That is a shift inside AI, not an exit.
Neoclouds. Financing is the swing factor. The stocks fell, so the market is pricing funding risk: favour names that pay for growth from cash flow or have long-term contracts with investment-grade buyers.
Rates. The 10-year yield dropped 6bp. Lower yields help debt-funded builders and long-duration growth names the most.
Get this in your inbox
A three-minute read every weekday before the US open. Free.
Past days (15)
- Thursday 12 November 2026 — Money questions at CoreWeave
- Wednesday 11 November 2026 — SK hynix jumped without a clear catalyst
- Tuesday 10 November 2026 — Money questions at Coherent
- Monday 9 November 2026 — Coherent jumped without a clear catalyst
- Friday 6 November 2026 — Micron Technology slid without a clear catalyst
- Thursday 5 November 2026 — CoreWeave signed a deal
- Wednesday 4 November 2026 — More money going into the build-out
- Tuesday 3 November 2026 — Lumentum signed a deal
- Monday 2 November 2026 — Intel slid without a clear catalyst
- Friday 30 October 2026 — More money going into the build-out
- Thursday 29 October 2026 — Vertiv jumped without a clear catalyst
- Wednesday 28 October 2026 — More money going into the build-out
- Tuesday 27 October 2026 — Lumentum jumped without a clear catalyst
- Monday 26 October 2026 — Bloom Energy slid without a clear catalyst
- Friday 23 October 2026 — Bloom Energy delivered, but the stock still fell
Built automatically from 947 public headlines, delayed prices and our bottleneck research; each item links to the original story. Published each weekday around 6:30am US Central. Not investment advice.