Nvidia has shed $1 trillion in under two months
Chipmakers and AI stocks have absorbed nearly all of the risk appetite. Nvidia's $1 trillion did not leave the trade, it moved into memory, where Samsung and SK Hynix are up triple digits this year and SK Hynix drew seven times the demand for a $27 billion U.S. listing.
Several analysts have named the rotation as a direct drag on bitcoin, as reported . U.S. hyperscalers are on track to spend about $725 billion on AI infrastructure this year, and roughly three quarters of that flows into chips, servers and data centers.
The flows follow. Spot bitcoin ETFs lost $4.5 billion in June, among their worst month since launch