Intel's 29% Nosedive Leads Massive Global Chip Stock Selloff As AI Hype Sours

ToplineIntel shares nosedived Friday after the American stalwart announced an array of bad news including hefty layoffs and disappointing earnings, setting the chipmaker on track for its worst day in decades and dragging the entire market down as it ignites a massive selloff of global semiconductor stocks.Intel shares plummeted amid a broader chip stock rout on Friday. NurPhoto via Getty Images Key FactsIntel shares fell nearly 30% on Friday morning after the company said it was cutting more than 15% of its ...