Nvidia NVDA shares fell more than 4% on Thursday as chip stocks came under renewed pressure, with investors growing increasingly concerned about the financing required to sustain the artificial intelligence boom. The selloff extended across the technology sector, with the Nasdaq Composite down 2.5%, the S&P 500 falling 1.4% and the Dow Jones Industrial Average
Meta Platforms reports third-quarter earnings on Wednesday with Wall Street facing a test of whether the artificial intelligence boom is producing enough cash to justify its enormous investment bill. Analysts expect $63.42 billion in revenue, up nearly 24% annually, but also forecast $41.68 billion in capital expenditure and an $8.52 billion free cash outflow. The
Samsung Electronics and SK Hynix fell in Seoul on Tuesday despite an overnight rebound in US semiconductor stocks. SK Hynix dropped 3.6% to 1,231,000 won, while Samsung lost 1.5% to 214,500 won by 10:30 am local time. The KOSPI declined 3.2% to 5,587.27. The losses contrasted with Monday’s 1.61% rise in the Philadelphia Semiconductor Index,
IBM stock experienced its worst drop in years when it released its second quarter results, which came short of expectations. It dropped to $211 immediately after earnings and then plunged to $197 a few days later. The company will now be in the spotlight as it releases its earnings report on Tuesday. IBM earnings to
The artificial intelligence trade has faced several headwinds this year, but last week’s sell-off struck at the foundations of the multiyear AI infrastructure boom, revealing a stark shift in investor sentiment as warnings about financing costs and returns become harder to ignore. The week began with industry leaders highlighting the growing importance of capital availability
Anthropic’s potential initial public offering is facing an early test of investor appetite, with some prospective and existing investors reportedly considering a valuation of around $1.5 trillion, below the roughly $2 trillion target previously expected for its November listing. The reassessment follows a slowdown in the company’s sequential revenue growth and comes as investors grow
Palantir stock has suffered a big reversal, wiping out some of the gains made since June when it bottomed at $106.5. It dropped to $186.7, down by 12.75% from its highest point this year. Still, analysts are optimistic about the company, citing its strong fundamentals and revenue growth. Palantir stock coincided with the tech sector
Samsung Electronics and SK Hynix stocks plunged on Thursday as investors shifted focus from chip supply to the customers financing the artificial intelligence boom. Samsung fell 9.3% and SK Hynix 11% in Seoul, helping push the KOSPI down more than 7%. The rout followed a bruising Wall Street session in which hotter US inflation and
US stocks closed lower on Wednesday as hotter-than-expected inflation data increased expectations of further Federal Reserve interest rate hikes, weighing on technology shares and other rate-sensitive investments. The S&P 500 fell 1.08% to 7,721.49, while the Nasdaq Composite dropped 1.85% to 26,701.48. The Dow Jones Industrial Average declined 0.09%, or 45.23 points, to 51,624.87, with
Oil prices were mixed as hopes for increased Russian diesel supplies offset concerns over attacks on Middle East energy infrastructure. Gold prices edged lower ahead of key US inflation data, while New York Fed President John Williams maintained that another rate hike could be appropriate this year but saw no need for further increases in