Chip slump erases $1.3 trillion in stock market value

U.S.-traded chipmakers plunged on Friday, losing about $1.3 trillion in market value, with deep losses in AI heavy hitters including Nvidia (NVDA.O), Micron Technology (MU.O) and Advanced Micro Devices (AMD.O), as Broadcom's (AVGO.O) weak report earlier this week reverberated across Wall Street.