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AI & Enterprise

Magnificent 7 market value down $2.3 trillion in June as AI investment doubts grow

The market capitalisation of the so-called Magnificent 7 U.S. tech stocks fell by $2.3 trillion in June. CNBC reported that investors are rechecking whether big tech can recoup heavy spending on AI infrastructure, even as money continues to flow into semiconductors. The CNBC Magnificent 7 Index fell 10 percent in June. In contrast, the Philadelphia Semiconductor Index rose about 6 percent over the same period, and is up more than 90 percent this year.

Industry

Azicland joins SK Hynix as development partner for next-generation enterprise SSD based on TSMC advanced process

Azicland will participate as a key partner in SK Hynix’s development of a next-generation enterprise solid-state drive, the company said on Sunday. Azicland said it signed a contract to provide customised design services and tape-out support for the development of SK Hynix’s next enterprise SSD controller. The contract is worth 31.9 billion won and runs from May 27, 2025 to Dec. 31, 2027. Azicland said the scope includes design, verification and manufacturing execution after commercialisation.

Industry

Intel pushes into foundry market, focus on Samsung response

Intel’s push into the contract chipmaking market is becoming visible through orders from big tech firms, with Tesla set to use Intel’s 14A process for AI chips and Google reportedly shifting part of TPU production. The move comes as TSMC capacity constraints have opened space for alternatives such as Samsung Electronics. Intel’s U.S. government backing and leadership hires add to competition for U.S. customer volumes, as Samsung prepares to outline its technology strategy at upcoming forums in Seoul.