Why GigaDevice (GIGADEV) fell 2.79%
GigaDevice (GIGADEV) fell 2.79% on October 29, 2026 — Alphabet's lighter capex revives AI spending fears.
What happened
GigaDevice fell 2.8% with the AI Memory selloff, which followed Alphabet's results and lighter capex that revived fears about the pace of AI spending.
Why it moved
Alphabet's lighter capex read-through hit the AI supply chain broadly, so memory names repriced lower on the implication that AI server demand could slow; GigaDevice, as a memory-adjacent chipmaker, moved down with the…
Why it matters
GigaDevice belongs to the AI Memory theme, where AI servers have been pulling HBM and DRAM supply and lifting memory prices; the Alphabet reaction shows how sensitive that thesis is to hyperscaler spending signals.
What would break the thesis
If Amazon and other hyperscalers confirm strong AI capex, the group should recover; a clear slowdown in hyperscaler spending or a fall in memory pricing would validate the selloff.