AI Chip Stocks Plunge: Divergence Between Market Sentiment and Fundamentals

In principle, the sell-off in Asian chip stocks triggered by SK Hynix's underwhelming earnings is essentially a repricing of AI computing demand growth rates by capital markets, rather than a fundamental questioning of AI's long-term value. The current market reaction is largely driven by short-term shifts in psychological expectations, which are structurally misaligned with the actual curve of computing power growth required for foundation model training.