With Chips / semis (SOXX) down 3.6%, this looks like a sector-led move rather than a company-specific surprise.
The semiconductor sector is trading sharply lower due to persistent investor concerns about the sustainability of massive AI-related spending by major tech companies. After a significant run-up in the first half of the year, the sector is experiencing a broad-based sell-off driven by fears of slowing growth and elevated valuations. Negative sentiment from Asian markets, particularly a drop in South Korean chipmakers, has contributed to the selling pressure during the current session.