October 13, 2026
Chip stocks slump after Broadcom CEO's 'casino' remarks, KOSPI down 5.46% in a day
On Oct 13, KOSPI closed down 5.46%, its biggest drop since Aug 19: Samsung shares fell 7.39% and SK hynix 10.09%.
On Tuesday, chip stocks fell at once in Seoul, Tokyo and Taipei.
What Hock Tan said. Broadcom’s chief compared many AI investors to casino players. In his words, they “don’t understand what they’re investing in” and set expectations too high.
The Nikkei lost 1.8%, Taiwan’s index almost 2%, and TSMC fell by about the same. KOSPI briefly dipped below 6,000, its lowest since Jul 30.
China’s CXMT reported progress on a new memory architecture. Samsung and SK hynix put its commercialization no earlier than 2028, and no date for mass production has been given. By an industry estimate, CXMT trails the Koreans by about three to four years, and it does not yet have stable production of 8-high HBM3.
Then and now. In Q1 2026, CXMT accounted for 8% of global DRAM revenue, up from 3% a year earlier. On Jul 27 it went public, raising 12.56 trillion won; on its first trading day in Shanghai, its shares rose about 470%.
Goldman Sachs expects CXMT’s capacity to reach 41% of Samsung’s and 50% of SK hynix’s by 2028.