<div id="readability-page-1"><div> Shares of technology companies slid as traders continued to rotate out of the sector. A surge in Micron Technology shares after the session indicated the tech rally could soon resume, however. Shares of AI chip maker Cerebras Systems plunged despite reporting better-than-anticipated earnings Tuesday. Similarly, Micron, which is up more than sevenfold from a year ago, was down by more than 5% at one stage ahead of its earnings report. Micron shares rose by more than 15% in late trading as AI demand drove up prices of memory chips and the company's quarterly revenue. &#34;The problem is a lot of investors are buying things simply because they're up without understanding why they're buying it or what they're buying for that matter,&#34; said Oliver Pursche, senior vice president at financial advisory Wealthspire. South Korean chip maker SK Hynix plans to raise more than $29 billion for AI expansion through a U.S. listing, one of the largest ever share sales. OpenAI and Broadcom collaborated to develop a custom artificial-intelligence chip, marking the next step in the ChatGPT-parent's strategy to build out a full stack behind its models and products. <pre></pre> Write to Rob Curran at rob.curran@dowjones.com (END) Dow Jones Newswires June 24, 2026 18:49 ET (22:49 GMT)Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div></div>

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Tech stocks declined due to sector rotation, though Micron rallied over 15% in late trading on strong AI-driven memory chip demand. Conversely, Cerebras Systems plunged despite beating earnings expectations. Meanwhile, SK Hynix plans a massive $29 billion raise for AI expansion via a U.S. listing, and OpenAI partnered with Broadcom to develop custom AI chips.

- Shares of technology companies experienced a decline as traders shifted investments away from the sector.  
- Despite this, Micron Technology saw a significant rise in shares post-session due to AI demand affecting memory chip prices, with its quarterly revenue increasing.  
- Additionally, SK Hynix plans to raise over $29 billion for AI expansion, and OpenAI partnered with Broadcom to develop a custom AI chip, indicating ongoing growth in the tech sector.

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Tech Down on AI Concerns; Micron Rallies in Late Trading — Tech Roundup