Slowing AI development coupled with soaring oil prices has hit Japanese and South Korean chip stocks hardest, with SK Hynix falling over 5% and SoftBank plummeting 11%.
AI giants have joined forces to call for a slowdown in the development of cutting-edge models, and soaring oil prices have reignited inflation concerns, putting pressure on Asian stocks at the open on Monday.
South Korea's KOSPI index fell more than 3%, SK Hynix fell more than 5%