Jun 23, 2026 · 7 min
Tech stocks slide as memory chips retreat and SpaceX valuation drops
Micron Earnings; SpaceX Slide Continues; IBM Climbs
Pre-market movements reveal a widening divergence between struggling hardware manufacturers and enterprise tech companies leveraging artificial intelligence partnerships.
- 1Memory chip makers Micron and SanDisk lead a tech sector pullback ahead of pivotal earnings reports.
- 2SpaceX shares continue to slide in private markets, dropping below their initial debut price.
- 3IBM shares gain ground following a strategic cybersecurity partnership with artificial intelligence leader OpenAI.
Don't miss
IBM climbs against the broader tech pullback after joining OpenAI's cyber partner program.
The brief
Global tech stocks are seeing a pre-market pullback, led by a decline in major memory and semiconductor players like Micron and SanDisk ahead of critical earnings reports.
The semiconductor weakness is a global trend, triggered in part by an overnight market drop in South Korea that dragged down industry giants Samsung and SK Hynix.
Meanwhile, SpaceX is seeing its valuation slide further in private markets, with shares trading below their debut price and erasing substantial market capitalization.
Bucking the downward tech trend, IBM shares are climbing after the legacy tech giant secured a strategic cybersecurity partnership with artificial intelligence pioneer OpenAI.
What was said on this episode
4 statements · 1 positive · 3 negative
HBM prices are about four times higher than broader memory, raising concerns about slowing AI-center demand.
“With HBM prices about 4 times higher than kind of the broader counterpart, it's causing speculation of potential slowing demand from AI centers.”
Listen at 1:53
SpaceX's Monday plunge erased $400 billion in market capitalization.
“Monday's plunge erased $400 billion in market cap and that's the second biggest single day wipeout for any company, only surpassed by Nvidia.”
Listen at 2:57
SpaceX positioned itself as an AI investment, while the AI sector is under pressure.
“The company built itself as an AI play and that area is under pressure.”
Listen at 3:15
OpenAI's cyber-partner product is designed to prioritize enterprise cybersecurity flaws and risks.
“The product is designed to be deployed within enterprise environments to prioritize areas with the highest flaws and risks.”
Listen at 4:09
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
OpenAIBooks & mentions
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