US chip stocks head for longest losing streak since 2008

The chip complex is now trading as the purest read on AI capex sentiment rather than on semiconductor demand itself, which is why a single narrative — that infrastructure spending has run ahead of returns — can drag the group lower even as the broader index holds up on breadth. CoreWeave's outsized move matters because it sits closest to the financing side of that buildout, where return-on-investment doubts bite first. Whether the weakness stays confined to AI-levered names or starts pulling the wider market is the open question.