공급 경고로 AI 매도 확대…마벨·AMD 8% 급락, 인텔 7% 하락

Chip Stocks Fall as Supply Warning Deepens AI Selloff: Marvell and AMD Sink 8%, Intel Drops 7% A single comment from a chipmaking equipment supplier sent shockwaves through the semiconductor sector, and the companies most dependent on AI data center spending are paying the steepest price. Find out which chip giants are taking the hardest hits and… A chipmaking equipment maker’s supply warning is turning the artificial intelligence (AI) trade into a broad semiconductor selloff, and the chip designers most tied to data center spending are taking the heaviest hits. Marvell Technology (NASDAQ:MRVL | MRVL Price Prediction) stock is down 8% to $224.64 in morning trading, a drop that puts the custom chip designer at the front of the sector’s retreat. Likewise, Advanced Micro Devices (NASDAQ:AMD) stock is down 8% to $509.79, matching Marvell’s slide as one of the largest AI chip names gives back ground. Across the group, the iShares Semiconductor ETF (NASDAQ:SOXX) is down 6%, a slide deep enough to show the damage spreading well past a handful of names. Intel (NASDAQ:INTC) stock is down 7% to $86.64, trailing Marvell and AMD while still falling faster than that sector fund. Large-cap tech is holding up better, with the Invesco QQQ Trust (NASDAQ:QQQ) down 2%. That gap focuses the selling in chips and leaves the rest of the technology complex relatively steady, even after a rough stretch for the AI trade. Chip names are taking the brunt of a single comment from an equipment supplier. Lam Research Supply Warning Sparks Chip Selloff The trigger came from Lam Research (NASDAQ:LRCX), which makes the equipment chipmakers use to build semiconductors. On its October 21 earnings call, Lam’s chief financial officer, Doug Bettinger, stated that “this revenue guide would have been a bit higher if not for some near-term supply chain constraints that we are actively managing.” Investors read that December-quarter comment as a sign that supply limits could hold back chip sales across the industry. Tim Archer, Lam’s chief executive, pointed to a longer runway for the bottleneck, saying: “As we move into calendar year 2027, we see clean room space availability and supply chain constraints for certain components continuing to limit chip makers and equipment companies’ ability to fully meet end demand.” Lam’s management also stated that “The whole industry is going to have to work through very similar things,” a line that extends the warning well beyond equipment makers. This latest wave of selling comes after a run of big technology earnings reports that put the AI trade under pressure. Marvell and AMD Lead Losses as Selling Reaches Intel AMD designs processors and graphics hardware for data centers and PCs, while Marvell develops custom chips and networking silicon for cloud providers. Among the chip designers most tied to data center AI spending, AMD and Marvell are also the stocks falling hardest. Marvell relies on manufacturing partners for fabrication, assembly, testing, and packaging, which links its results closely to outside capacity. Intel both designs chips and manufactures them in its own factories. Having fabs hasn’t spared Intel stock, which is still falling faster than the semiconductor fund, a sign the selling reaches chipmakers whatever their business model. Heavier spending on equipment, clean room space, and substrates is part of Intel’s growth plan, and those inputs overlap with the bottlenecks Lam described. Lam’s own commentary offers a balance to the gloom around Marvell, AMD and Intel shares. Archer stated that “this is nothing like that” when comparing the current tightness with COVID-era shortages, adding, “I think we’ll be caught up very shortly.” Strong demand is what’s straining suppliers in the first place, and Lam said some of its vendors are seeing orders from it grow even faster than Lam itself. Chip Supply Squeeze Puts Outlooks to the Test For Marvell, AMD and Intel, the question now is whether supply limits start showing up in their own outlooks. Bettinger expects shipments that slip out of the December quarter to go out in the March quarter, giving the market a concrete timeline for the bottleneck. Marvell’s next outlook could show whether its data center momentum holds against tighter capacity. For now, the semiconductor fund’s steeper drop against large-cap tech keeps the pressure squarely on chipmakers. Investors should consider keeping their position sizes modest until the chip supply squeeze resolves. Contact [email protected] for any questions or corrections.