JPMorgan Asset Management’s global head of equities, Paul Quinsee, says semiconductor memory stocks may be on the cusp of a strong rebound after investors dumped the shares in the past few months over fears about the huge levels of spending on artificial intelligence.
Although AI giant Anthropic’s blockbuster initial public offering filing helped calm market jitters around AI financing and boosted the share prices of some of the world’s largest memory companies on Tuesday, South Korea’s Samsung and SK Hynix are still down more than 40 per cent from their June peaks.
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