Neoclouds, AI stocks slide again as Nvidia turmoil rattles sector
QQQ•QQQ•QQQ•QQQ•AI-related US stocks fell on Friday, with the Nasdaq-100 down 2.2% and the Philadelphia semiconductor index down 6%. CoreWeave and Nebius fell 10.8% and 12.1%, respectively, as investors weighed AI financing concerns and Nvidia’s upcoming earnings.
Shares of AI-related US companies fell again on Friday, with neocloud firms among the hardest hit. The Nasdaq-100 declined 2.2%, while the Philadelphia semiconductor index fell 6%; the indexes were on pace to lose almost $870 billion and more than $670 billion in market value, respectively, if their losses held through the close.
Nvidia-backed CoreWeave fell 10.8% and Nebius Group lost 12.1%. Nvidia’s financing of infrastructure built around its chips has driven demand but raised questions about circular funding flows between the chipmaker and its customers. Nvidia’s quarterly earnings and Anthropic’s expected public markets debut are set for next week.
