US Stock Market Move | Semiconductor equipment stocks continue to decline, with Lam Research Corporation (LRCX.US) falling more than 15% in two days.

On Thursday, the US semiconductor equipment stocks continued to fall, with consecutive big drops for two days in a row. Lam Research Group (LRCX.US) fell over 7%, with a cumulative drop of over 15% in two days; KLA Corporation (KLAC.US) dropped nearly 8%, and Applied Materials (AMAT.US) dropped nearly 7%. Meta is selling excess computing power, causing the market to begin to worry about a reverse scenario: if computing power is not absolutely scarce, if there is temporary idle in GPU clusters, then the valuation premium of "shovel sellers" needs to be re-evaluated. However, analysts point out that the real focus is on whether major factories will reduce AI Capex. If Capex does not decrease, this is just an upgrade of the AI infrastructure business model. If Capex is revised downward, then it is the beginning of the need for a repricing of the AI hardware chain.