Marvell Shares Drop Amid AI Capex Slowdown Fears, Dragging Down Semiconductor Sector
Shares of Marvell Technology (NASDAQ:MRVL) fell by 8% as fears over slowing capital expenditures in the AI sector weighed on semiconductor stocks. The decline extended to other major chipmakers like Broadcom (AVGO), AMD, and Intel (INTC). Despite a strong year-to-date performance, concerns about reduced hyperscaler spending are causing traders to reduce exposure.
Tickers: $AMD $AVGO $INTC $MRVL
Topics: AI spending capex slowdown semiconductors