Qualcomm’s stock took a sharp hit as the semiconductor sector pulled back from a powerful artificial intelligence-driven rally. Shares of Qualcomm dropped more than 11%, marking the company’s worst trading session since 2020. The decline came as investors moved away from riskier growth stocks after a hotter-than-expected inflation reading raised concerns about interest rates and market valuations. The selloff also affected several other chip companies, with Intel falling 7%,

Micron Technology’s decision to walk away from consumer memory is more than a brand change, it is a clear signal that artificial intelligence is reshaping the economics of making chips. Micron began in 1978 as a small design consultancy founded by Ward Parkinson, Joe Parkinson, Dennis Wilson, and Doug Pitman in Boise, Idaho, backed by local investors including J.R. Simplot. By 1983, the company was already punching above its weight by producing chips roughly half the size o