Plenty of investors have wondered whether the artificial intelligence boom has gone too far. On Thursday, the head of a $35 billion chipmaker effectively said so directly. "I have been saying it, that data center is in the bubble," Steve Sanghi, president and CEO of Microchip Technology (NASDAQ:MCHP), said on the company's earnings call Thursday evening, according to a recording of the call. The timing was hard to miss. Earlier that day, the Invesco QQQ Trust (NASDAQ:QQQ), which tracks the Nasdaq 100, fell 6.5%, and the VanEck Semiconductor ETF (NASDAQ:SMH) dropped 11.2%. Microchip itself tumbled 13.9% during the session, before it reported results after the closing bell. (Shares are up less than 1% in pre-market trading on Friday.)
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