After the frenzy, the fallout: why the chips are down for Shenzhen’s tech traders

SCMP Tech / 5/6/2026

💬 OpinionSignals & Early TrendsIndustry & Market Moves

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Key Points

Massive AI-driven demand has sent memory-chip makers’ profits to record levels, but Shenzhenの華強北（Huaqiangbei）では別の形で調整局面の痛みが出ている。
2025年後半以降の投機的な熱狂で在庫の価値が大きく目減りし、チップ価格の急落と損失がトレーダーを直撃している。
かつては靴屋や魚屋のような異業種までメモリーチップ投機に参入するほど過熱しており、その反動で市況が急に反転した。
グローバルな半導体企業の好況と、ローカル市場の在庫負担・価格下落が同時に進むことで、現場の収益環境の格差が拡大している。

While the world’s largest memory-chip makers are reaping record profits from the artificial intelligence boom, traders in Shenzhen’s Huaqiangbei electronics market are being left to deal with the fallout of a speculative frenzy that has sharply reversed, wiping out much of the value of their inventories since late 2025. “The market surge last year became so frantic that everyone from shoemakers to fishmongers piled into memory-chip speculation,” a trader surnamed Liu said from his cramped stall...

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