AI Stocks Get Pummeled as Oracle Delay Adds to Broadcom Concerns

The shares of companies exposed to artificial intelligence infrastructure came in for a beating after a report about Oracle Corp. data center delays added fuel to a selloff already underway following disappointing earnings results from chipmaker Broadcom Inc.

The Philadelphia Stock Exchange Semiconductor Index fell as much as 5%, putting the benchmark of 30 chip-related stocks on track for its worst decline in about two months. In addition to Broadcom, which fell as much as 12%, other big decliners included Astera Labs and Coherent Corp., with both dropping more than 10%.