SanDisk Corp.'s stock plummeted 5.50% in overnight trading, reflecting a sharp decline in the storage sector.
The sell-off was triggered by Amazon's projection of a more than 50% surge in capital expenditures this year to build out artificial intelligence infrastructure, which sent Amazon's shares down over 10% and dragged down related storage stocks.
Other storage companies like Micron and Western Digital also experienced significant drops, indicating broad-based investor concern over the impact of increased AI-related spending on the sector.
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