Chip stocks are being sold off, exacerbating the situation. Prior to this, Google announced a significant breakthrough in technology that could greatly reduce memory requirements.

Storage chip stocks continued to decline on Thursday, after Alphabet Inc.'s Google announced research results that can make storage usage for artificial intelligence development more efficient. Leading companies in the South Korean market, SK Hynix and Samsung Electronics, fell by over 6% and around 5% respectively in Seoul. In the United States, Micron Technology, Western Digital Corporation, and SanDisk Corporation all fell by over 2% in pre-market trading, and all closed lower on Wednesday. Over the past few months, as the rapid development of artificial intelligence infrastructure has driven chip prices soaring, increasing profits and stock prices, storage chip companies have performed strongly. Four mega-scale technology companies led by Amazon and Google plan to invest approximately $650 billion this year to build data centers, thereby purchasing a large number of NVIDIA's artificial intelligence accelerators and related memory chips. SK Group Chairman Choi Tae-won recently stated that the shortage of storage chips will continue until 2030.