From the article:

HONG KONG (AP) — South Korea's Kospi index plunged more than 10% on Tuesday on heavy selling of chipmaking stocks that have gyrated recently due to concerns over the sustainability of the boom in artificial intelligence.

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Trading was temporarily halted as Kospi dropped to its lowest level since April as shares in chipmakers Samsung Electronics and SK Hynix dropped sharply. The Kospi was down 10.5% at 6,051.19 by midday.

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Samsung's shares tumbled 12% while those for SK Hynix were down 12.7%.

A big factor driving the selling of AI-related shares, analysts said, is the expectation that competition from Chinese AI startup s and chipmakers might undermine gains for global companies whose shares have skyrocketed due to the AI frenzy.

A 466% jump in the price of Chinese chipmaker CXM T in its trading debut Monday has underscored such concerns. CXMT raised at least $8.6 billion in its initial public offering on Shanghai's tech-oriented STAR exchange.