AI-linked stocks resume slide after brief respite
NVDA•U.S. AI-linked stocks fell again after a two-day respite as Nvidia weakness and hot inflation data revived concerns about higher interest rates. Nvidia dropped to the world's third-most valuable company after reportedly losing the top spots to Apple and Microsoft; declines across chipmakers, server makers and data center firms ranged as high as 8.9%.
1. AI stocks fall again
U.S. AI-linked sectors came under pressure after a two-day respite, as Nvidia weakness and hot inflation data revived concerns about higher interest rates. Nvidia became the third-most valuable company, behind Apple and Microsoft, after reportedly losing the top spots.
2. Declines across sectors
Micron fell 3.3%, while AMD rose 0.4%. CoreWeave, Nebius and IREN declined between 1.9% and 8.9%; CoreWeave was set to report results after the market close. Dell, Super Micro and Hewlett Packard fell between 2.2% and 5.6%.
3. Infrastructure shares retreat
Applied Digital, Hut 8 and Cipher Digital fell between 2.3% and 5.7%. GE Vernova slid 7.3%, Constellation Energy fell 3.9% and Caterpillar declined 3.8%.
