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Micron stock had a bad end to the holiday-shortened week but there are already signs it could rebound once the Fourth of July celebrations end. The memory-chip maker fell 5.5% on Thursday after a 10.6% slump in the previous session, taking the shares to $975.56–the first time it’s closed below $1,000 since June 12. While U.S. stock markets are closed Friday, markets were open as normal in South Korea.

It followed a brutal tech rout in the previous session, which mimicked the chip-stocks selloff in U.S. markets where the tech-heavy finished 0.8% lower to end a holiday-shortened week. Trading was halted on the KOSPI Thursday as the slump triggered a sell-side regulatory halt, or “circuit breaker,” very early in the morning session for 15 minutes. The Seoul market is a hostage to the benchmark index’s two largest constituents—memory-chip titans SK Hynix and Samsung Electronics —and the pair again drove the recovery Friday, surging 10.9%, and 8.2%, respectively.

Technology stocks were rising in international markets after U.S. jobs data reduced expectations of a hike to interest rates.

Shares of European semiconductor companies were following their Asian peers in green territory, a day after investors shunned stocks linked to artificial intelligence.

Asian markets pushed higher on Friday after the Dow Jones Industrial Average closed at another record high, with several AI and related chip stocks staging a rebound even as others extended their recent slide.View on euronews

Shares rallied in Asia on Friday after the Dow Jones Industrial Average set another record, as some key AI related stocks rose while others extended losses. U.S. futures were moderately higher and oil prices also rose. Samsung Electronics, the country's biggest company and a major maker of computer chips, gained 7%.

Micron Technology just delivered the best quarter in its history. However, three days later, a federal courtroom in California turned that story upside down. A class-action lawsuit filed on June 25 accuses Micron (MU), Samsung, and SK Hynix of secretly restricting memory chip supply to inflate ...

SanDisk sinks 14%, Micron falls 5%, and Seagate drops 10% as investors price in a looming AI memory and storage supply glut.

Shares of memory chips maker Micron (NASDAQ:MU) fell 6.9% in the afternoon session after a class-action lawsuit, significant insider selling, and a broader sector-wide selloff prompted investors to take profits.

Investors received a sharp reminder that there are other players in the high-stakes AI chip game.

(Bloomberg) -- Government attempts to address the global memory chip shortage by influencing prices or production capacity would worsen a historic squeeze on supply driven by the artificial intelligence boom, a semiconductor industry group warned the Trump administration. Most Read from BloombergExxon to Change Name for First Time in Decades After RedomicileGermany Rejects Trump’s Demands for NATO Loyalty to WashingtonMeta Is Planning a Cloud Business to Sell AI Computing PowerRussia Indicates U

U.S. recruitment slowed significantly in June, dampening some of the employment growth momentum observed earlier this year.

American employers added 57,000 new jobs last month, the Labor Department said Thursday. Memory stocks were particularly hard hit, with Sandisk falling 14.1% and Samsung Electronics declining 9.1% overnight.

Anthropic joins OpenAI in the quest for a custom AI chip in its reported partnership with Samsung.

Suppliers reportedly preparing higher production volume.

The iShares MSCI South Korea ETF (NYSEARCA:EWY) just gave back a chunk of its blockbuster year in a single week. EWY closed near $192, down roughly 12% on its most recent trading day. The fund is still up sharply year-to-date, and that round trip in miniature is the EWY story for the next year: the ... The 2 Signals That Will Determine EWY’s Next 12 Months: AI Memory Demand and Samsung Concentration

VALR will become the first major regulated exchange to natively integrate Hyperliquid, sourcing onchain liquidity for 200+ perps markets.

Chips, displays and batteries drive expansion.

(Bloomberg) -- Semiconductor stocks are starting the third quarter with their worst two-day selloff in nearly a month. Most Read from BloombergExxon to Change Name for First Time in Decades After RedomicileMeta Is Planning a Cloud Business to Sell AI Computing PowerGermany Rejects Trump’s Demands for NATO Loyalty to WashingtonRussia Indicates Ukraine Fired Long-Range Ballistic MissileKrafton Agrees to Pay ‘Subnautica 2’ Bonuses as Developer’s CEO ResignsThe Philadelphia Stock Exchange Semiconduc

Samsung and SK Hynix drag global chip names lower.

Investing.com -- Anthropic has begun early-stage work on a custom AI chip and held talks with Samsung Electronics Co Ltd (KS:005930) as a potential manufacturing partner, according to The Information, a development that sharpens competitive pressure on NVIDIA Corporation (NASDAQ:NVDA), which currently holds an estimated 74% share of the AI chip market.

Apple's Foldable iPhone Strategy Just Got Bigger as Production Forecast Jumps

The dollar fell Thursday after disappointing US jobs data dampened expectations of a quick hike in interest rates.The dollar fell more than one percent against the yen after the data. 

Morningstar is warning investors to brace for a reckoning in AI stocks, with memory-chip names sitting on the biggest gains facing the most downside. In a Bloomberg TV segment, Morningstar director of research Lorraine Tan warned that a large slice of AI names could give back 20% to 30% before they become buyable again. For ... Morningstar Warns Of 30% Crash In AI Stocks, Is It Time To Sell Micron?

The world’s hottest stock index tumbled Thursday but the tech selloff abruptly reversed ahead of the U.S. open.

A fourth straight month of gains above 100,000 would represent a run of job growth not seen since the start of 2024

The slide appears to reflect concerns that tech companies have built more AI computing capacity than they really need, says Mohit Kumar, chief European economist at Jefferies. Those fears were rekindled ...

U.S. sets up new trade limbo with Canada and Mexico, SpaceX emerges at threat to wireless providers, Kroger wades back into M&A, and more news to start your day.

Asian stock markets largely fell back Thursday, following overnight declines on Wall Street of chip

<body><p>STORY: From Anthropic's new models getting cleared to Meta's reported big cloud move...</p><p>This is AI Weekly.</p><p>:: AI Weekly</p><p>Anthropic said the U.S. lifted export controls on its latest AI models.</p><p>It comes less than three weeks after the startup was forced to suspend access to its newest products over national security worries.</p><p>It led Anthropic to suddenly disable its Mythos 5 and Fable 5 models.</p><p>Washington has stepped up oversight of new releases due to concerns AI could be misused by intelligence agencies in China, Russia and elsewhere.</p><p>South Korea unveiled multi-billion dollar chip and AI mega-projects.</p><p>President Lee Jae Myung pledged investments worth more than $576 billion over a number of years.</p><p>Authorities said tech heavyweights Samsung and SK Hynix will invest over $518 billion to build two new chip fabrication sites each in South Korea's southwest.</p><p>It marks President Lee's biggest move yet to revive domestic economies beyond the capital Seoul.</p><p>Chipmaker Micron briefly blew past the market value of Big Tech giants Meta and Tesla for the first time ever.</p><p>The stock surge came a day after Micron forecast quarterly profit and revenue way ahead of analyst expectations.</p><p>The company is a major supplier to AI powerhouse Nvidia, and its shares have more than tripled in value so far this year.</p><p>It reached a market cap of about $1.4 trillion at one point after its results were released.</p><p>And Meta is building a cloud business to sell excess AI computing capacity.</p><p>That's according to a report from Bloomberg.</p><p>The move could lower Meta's reliance on advertising revenue and help it take on cloud majors like Amazon and Microsoft.</p><p>Meta didn't immediately respond to a request for comment.</p><p>CEO Mark Zuckerberg said earlier this year the firm could enter the cloud computing business if it overspends on data centers and has excess capacity.</p></body>