Asian Shares Decline As Tech Jitters Return To Haunt

Asian stocks retreated on Thursday as AI-related concerns triggered a sharp sell-off in semiconductor shares.

South Korea and Japan experienced acute selloffs after reports emerged that Apple Inc. is in negotiations to purchase chips from two Chinese semiconductor makers on a Pentagon blacklist to reduce the impact of an ongoing global memory chip shortage.

Additionally, it was reported that U.S. tech giant Meta Platforms plans to rent its artificial intelligence infrastructure to other companies, fueling concerns that the company may have built more AI computing capacity than it currently needs.