Google’s TurboQuant AI advance dents memory-chip stocks, but analysts say ‘buy the dip’

A new artificial intelligence algorithm developed by Google that could reduce demand for memory chips triggered a slump in global memory stocks, but analysts said it presented an opportunity for investors to “buy the dip”. Shares in memory giants including Samsung and SK Hynix fell after Google said in a blog post on Tuesday that the algorithm, called TurboQuant, reduced the memory demands of key-value (KV) caches – a crucial component of how AI models are served to users – by six times through...