AI fatigue drives chip stocks to their longest losing streak since May 2025

A weaker-than-expected OpenAI revenue figure and a blunt warning from Broadcom's CEO have semiconductor investors asking where the money actually comes from Chip stocks are having a rough October. As of October 13, 2026, the iShares Semiconductor ETF (SOXX) had fallen for five trading days in a row, its longest losing streak since May 2025. The culprit has a name: AI fatigue . Investors who spent most of the year funding the AI buildout are now asking a simple question. When does all this spending start paying for itself? The damage runs deeper than a single ETF.

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