Intel Leads U.S. Tech Stock Slide With a 29.35% Opening Drop

Intel shares dropped 29.35% at the U.S. market open Friday, leading losses across semiconductor, neocloud, optical communications and memory stocks in a broad technology-linked decline.

Among semiconductor stocks, AMD fell 10.22%, Arm dropped 10.01%, MRVL declined 7.36% and Nvidia fell 3.11%. Neocloud stocks also fell sharply: Hut 8 lost 10.20%, Cipher Digital fell 9.38%, CoreWeave declined 9.24%, TeraWulf dropped 9.18%, Nebius was down 8.81% and Core Scientific fell 8.59%. Each of the six listed neocloud stocks lost at least 8.59%.

Optical communications tickers COHR, AAOI, ALAB, CIEN and NOK declined 9.04%, 8.90%, 7.73%, 7.55% and 7.38%, respectively. Memory tickers SNDK, SKHY, MU, WDC and STX were down 9.26%, 6.97%, 5.56%, 5.51% and 5.21%, respectively.

Intel’s drop was nearly three times the declines in AMD and Arm, while Nvidia’s loss was smaller. The opening selloff stretched across chipmakers, neocloud providers, optical communications firms and memory companies.