A nearly $600 billion rout in just a little over a month has flipped SK Hynix. from one of the world's hottest artificial intelligence trades to one of the biggest portfolio question marks.
Shares of the South Korean memory chipmaker have plunged 47% from their all-time high in June on concerns about overcrowding and a surge in leverage-induced volatility. Its loss in market value over that span rivals that of even SpaceX.
The stock tumbled almost 15% Tuesday after The Information reported on Chinese progress with deep ultraviolet (DUV) lithography machines, fueling concerns over a potential flood of new capacity amid broader worries over the AI rally.
