AI Chip Trade Hits Turbulence as Tariffs and Oversupply Concerns Weigh on Memory Giants

The global artificial intelligence semiconductor trade faces mounting headwinds as valuation concerns, geopolitical tensions, and signs of excess capacity converge to slow one of this decade's most explosive growth engines. Memory chip stocks tumbled sharply in mid-October 2026, with Samsung Electronics and SK Hynix plunging more than 7% to 8% as investor confidence wavered over whether the industry is building AI capacity faster than customers will actually use it.