Goldman Sachs AI memory basket sinks 51%, deepest slide since ChatGPT era

Goldman Sachs' basket of AI memory-related stocks is bleeding. The group has dropped 51% from its June peak, according to Bloomberg, as flagged by Cointelegraph. That's the deepest drawdown for the basket since ChatGPT arrived on the scene.

The June high now looks a long way off. A 51% slide means the basket has given back more than half its value from that top, a level of pain it hasn't hit at any point since the chatbot boom began.

Memory has been one of the loudest corners of the AI trade, tied to the chips and components that feed data-hungry models. Now it's also one of the hardest hit, with the drawdown standing out even against the sector's usual swings.

The comparison to ChatGPT's launch is the striking part. Bloomberg's read is that no stretch since then has cut this deep into the basket, making the current slump a first for the AI memory cohort.

There's no word yet on what flipped the trade or where it goes next. For now, the number does the talking: 51% off the June peak, and a record drawdown for the group.