Chip Stocks Lose $2 Trillion in Eight Sessions, Testing AI Investment Faith

The Philadelphia Semiconductor Index fell over 11% last week, extending losses to eight straight sessions and erasing approximately $2 trillion in market value. With the 10-year Treasury yield above 5%, high borrowing costs are pressuring AI-related stock valuations. CNBC panelists debated whether the selloff is driven by rate concerns or fading expectations of AI spending returns.