Bay Area tech stocks took a beating on Thursday, Oct. 22, 2026. Santa Clara's AMD closed down 8.1% at $507.93 and Intel fell 8.0% to $85.49, while Menlo Park's Meta dropped 7.0% and Nvidia slid 4.4%, according to Calwire's closing roundup.

Why it matters: All five companies are headquartered in the Bay Area. The drop came as oil prices jumped and investors questioned how the costly AI data-center build-out will be paid for.

Thursday's closing moves

  • AMD (Santa Clara): $507.93, down $44.79 (-8.10%)
  • Intel (Santa Clara): $85.49, down $7.47 (-8.04%)
  • Meta (Menlo Park): $648.85, down $48.67 (-6.98%)
  • Nvidia (Santa Clara): $212.21, down $9.76 (-4.40%)
  • Alphabet (Mountain View): $324.22, down 3.15%
  • Gainers: Netflix (Los Gatos) rose 3.09%, Uber (San Francisco) 2.14% and Apple (Cupertino) 1.23%.

What drove it

The Motley Fool reported that Brent crude topped $112 a barrel after attacks in Saudi Arabia, adding to worries that inflation and borrowing costs will stay high. The S&P 500 fell 1.2% and the Nasdaq Composite 2.6%.

Chip stocks were also hit after Fremont-based equipment maker Lam Research said supply chain limits trimmed its outlook. Yahoo Finance reported the PHLX Semiconductor Index fell more than 6%. See our story on Lam Research's record quarter.

Meta's quarterly report, which showed negative free cash flow for the first time since 2012 and a new non-voting share class, added to concerns about AI funding, the Fool said. More: Meta's Q3 results.

What's next

Intel will report third-quarter results after the market closes on Thursday, Oct. 29, 2026, with a conference call at 2 p.m. PDT, the company said.