Concerns about the sustainability of AI investment hit Asian technology stocks on Tuesday, sending several major chipmakers and technology-focused investors sharply lower as markets weighed intensifying competition and the cost of the AI buildout.

Japan’s SoftBank Group (SFTBY) fell nearly 8%, while South Korea’s SK Hynix SKHY lost about 9% and Samsung Electronics (SSNLF) dropped around 6%.

The declines came after Micron Technology MU shed 3.9% on Monday in the U.S., where the Nasdaq Composite slipped 0.44%. The weakness suggests investors are becoming more cautious about companies whose valuations depend on continued growth in AI-related spending.

Memory-chip competition is adding to the uncertainty. China’s ChangXin Memory Technologies is advancing in the sector, raising questions about how established producers may defend their market positions. For investors, the latest losses put attention on whether expected AI demand will translate into returns sufficient to justify current valuations.