US chip stocks lose $100B as Google's TurboQuant cuts
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- US memory chip stocks collectively lost ~$100B in market value, with Micron experiencing a 15% decline (Financial Times).
- Google Research detailed its TurboQuant compression algorithm, indicating AI data centers might need substantially less memory than previously expected (Financial Times).
- Google is reportedly close to financing Nexus Data Centers' Texas campus, which is leased to Anthropic, signaling a deeper collaboration with the AI company (TechMeme, Financial Times).
Why it matters: Google's new tech could slash AI memory demand, upending chip markets while it invests heavily in AI infrastructure.
