AI stocks erase $13.2 trillion in market value as selloff deepens

A post-midterm rout in chip and infrastructure names has wiped out a staggering share of the AI trade since its 2026 highs AI stocks have shed approximately $13.2 trillion in market value since their 2026 highs. That tally runs through November 7, after a brutal week that turned a slow leak into a burst pipe. The losses are concentrated in the companies that build the physical backbone of artificial intelligence: chipmakers, memory suppliers, power providers and the hyperscalers spending heavily on data centers. The trigger was not an earnings miss or a technical breakdown. It was an election. One day, trillions gone The sharpest blow landed on November 5, the day after the US midterm elections. The Nasdaq 100 dropped 6.4% in a single session. That was the index’s steepest one-day decline since March 2020. Roughly $2.3 to $2.5 trillion in value vanished from the Nasdaq 100 in that one session alone. Wall Street’s fear gauge reacted accordingly. The VIX, which tracks expected volatility in the S&P 500, jumped 70% on November 5, one of the largest single-day increases in its history. The damage was not confined to AI names. Broader US equities have lost about $5.7 trillion in mar...