Hidden Beneficiary of AI Infrastructure Sees Market Cap Drop by $2.2 Billion in a Day

Flex Ltd. (NASDAQ: FLEX) closed at $65 on the Nasdaq, a 7.17% drop that wiped out roughly $1.6 billion (about ₩2.2 trillion) of its market value in a single day.

Its current market capitalization stands at approximately $23.9 billion (around ₩32 trillion), with about 2.61 million shares changing hands.

Earlier this month, Flex expanded its collaboration with AMD by beginning production of the AMD Instinct MI355X GPU platform at its Austin, Texas, facility, a move aimed at strengthening the U.S. AI data-center infrastructure supply chain. In February, the company reported its third-quarter fiscal 2026 results and raised its full-year revenue outlook—driven primarily by data-center growth—offering aggressive guidance to capitalize on AI infrastructure demand.

Legally headquartered in Singapore with major operations in Texas, Flex is a global electronics manufacturing services and design company serving industries including data centers, telecommunications, automotive and healthcare. Formerly known as Flextronics, the S&P 400 component leverages a global workforce of about 140,000 under CEO Revathi Advaithi to aggressively target high-growth areas such as AI data centers and electric-vehicle electronics.