What role did Meta play in triggering the selloff?
A Bloomberg News report said Meta plans to rent out spare AI cloud computing capacity — a move Forbes reported could clip AI capital expenditure. That raised doubts about whether hyperscalers actually need all the chip capacity they have been buying, undercutting the demand story that had powered the sector's yearlong rally.
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The AI Chip Rally Just Lost $1.3 Trillion in a WeekSemiconductor stocks erased roughly $1.3 trillion in July 2026 as Intel fell 21% and a Meta cloud-capacity report shook AI infrastructure bulls.
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