Chip Stocks Slump

Micron, Other Chip Stocks Slump After Google Unveils New Memory Technology

A selloff in memory chip makers extended to Asia and showed signs of continuing in the U.S. after Google’s unveiled technology this week that could reduce the amount of memory needed in AI models. Google researchers announced on Tuesday a new compression algorithm called TurboQuant, which they say can shrink the amount of key-value cache memory—essentially, short-term memory—that an AI model uses by at least six times, “all with zero accuracy loss.” Shares in Micron Technology, the largest American maker of memory chips, closed 3.4% Wednesday.