China's Star 50 AI and chip index falls 40% in under four months

China's Star 50 index of AI and semiconductor leaders has dropped about 40% in under four months, losing roughly $480B in market value. Memory chipmaker CXMT is down about 25% over the past month amid worries over AI demand and Chinese export curbs.

• Star 50 lost ~40% and ~$480B in market value in under four months
• CXMT is down about 25% over the past month
• Drivers include AI demand worries and Chinese export restrictions