A global chip rout dragged down Singapore's technology counters this week, even as South Korea's SK Group and NVIDIA (NASDAQ: NVDA) unveiled one of the largest artificial intelligence (AI) infrastructure commitments to date. Chip sell-off drags Singapore technology counters lowerSingapore's technology and semiconductor counters were caught in a global memory chip rout on Tuesday, 28 July 2026. Frencken Group (SGX: E28), a supplier to Applied Materials (NASDAQ: AMAT), took the largest hit and fell 8.9% by the close, while UMS Integration (SGX: 558), also an Applied Materials supplier, declined 8.5%. AEM Holdings (SGX: AWX) shares dropped 8.5% and CSE Global (SGX: 544) shed 4.9%. SK Group and NVIDIA unveil sweeping AI infrastructure pactSK Group and NVIDIA announced on 24 July 2026 plans for a partnership worth more than US$500 billion to build AI infrastructure, spanning AI factory construction through to AI memory supply, with letters of intent signed to formalise the agreement.