Chip stocks fell sharply on Aug. 18 after investors questioned the pace of AI-driven growth following weaker-than-expected revenue signals from Anthropic. The Philadelphia Semiconductor Index dropped 5%, with Marvell Technology down more than 7%, Arm and Intel off nearly 7%, Micron Technology falling 5.7%, and Nvidia down more than 2%, according to BIT (Bit.com) market data. The move came after concern that Anthropic's annual revenue was below market expectations, prompting fresh scrutiny of the slope of AI growth. Bloomberg had previously reported that Anthropic's annualized revenue run rate reached about $65 billion as of the end of July. Against a backdrop of some third-party estimates and bullish expectations in the AI industry that had pointed to more than $80 billion, the $65 billion figure may signal a slowdown in growth momentum.