Chip stocks whipsaw on inflation fears; NVDA, AMD, MU down 3-5% Friday

Semiconductor stocks posted their worst single day in weeks on May 15 as rising bond yields and inflation fears triggered a flight from high-capex, high-valuation names. NVDA fell 3%, AMD 3.3%, MU 5%, signalling that investors are repricing the AI capex boom against a backdrop of higher cost of capital and margin pressure from energy inflation.