It never falls as direct line, it will rebound, then fall again. Most data-center related stocks continue loosing their peak value (as Nov 05 2026):

SanDisk $SNDK: -66%

Arm Holdings $ARM: -64%

Coinbase $COIN: -63%

Nebius $NBIS: -62%

Seagate $STX: -60%

Marvell Technology $MRVL: -59%

ServiceNow $NOW: -57%

Oracle $ORCL: -56%

AppLovin $APP: -54%

Circle $CRCL: -54%

Super Micro Computer $SMCI: -51%

Micron $MU: -48%

Dell $DELL: -47%

SpaceX $SPCX: -47%

Qualcomm $QCOM: -43%