US technology shares fell sharply on Friday, dragging the S&P 500 down 1.1% to 7,659 as AI-related stocks including CoreWeave, Dell and SanDisk each fell more than 20% over the week.
Tag: AI stocks
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CoreWeave Revenue Doubles to $2.6 Billion as AI Backlog Hits $104 Billion
CoreWeave reported Q2 revenue of $2.58 billion, up 112% year over year, with its AI backlog swelling to $104 billion and shares jumping 13.5% after hours.
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S&P 500 Closes at Record 7,757 as Weak Jobs Data Lifts Rate-Cut Odds
The S&P 500 set a new all-time high of 7,757.64 on August 7, 2026, as a sharply weaker-than-expected US jobs report dimmed Federal Reserve rate-hike expectations and sent technology shares sharply higher.
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Alphabet, Amazon and Microsoft Add $1.5 Trillion After AI Cloud Earnings Vindicate Capex
Alphabet, Amazon and Microsoft’s cloud beats sent the S&P 500 to its best week since October 2023, adding $1.5 trillion in combined market value as investor anxiety over AI spending reversed.
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Alphabet and Tesla Trigger Nasdaq Selloff as AI Capex Concerns Grip Markets
Alphabet fell 7% and Tesla posted negative free cash flow as Q2 results raised fresh doubts about AI return on investment, dragging the Nasdaq 100 down 1.9% on Thursday.
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US chip stocks cap worst AI week yet as semiconductor index sheds 5.3%
The PHLX Semiconductor index fell 5.3% on June 29 as Micron shed 6.7% and AMD declined 2.1%, capping a week in which the Nasdaq lost 4.6% amid deepening doubt about near-term AI revenue.
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OpenAI weighs 2027 IPO delay as Altman holds firm on $1 trillion floor
OpenAI is considering a 2027 IPO delay after Sam Altman rejected any valuation below $1 trillion, sending SoftBank’s market cap down $38 billion on the news.
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Micron guides Q4 revenue to $50 billion as AI memory demand outruns supply
Micron reported Q3 FY2026 revenue of $41.46 billion — smashing guidance by $8 billion — and guided Q4 to $50 billion as AI memory demand outpaces chip supply.
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SpaceX stock falls 18% from its record high as IPO euphoria cools
SpaceX stock (SPCX) has retreated 18% from its $225.64 all-time high as rate-hike fears and the $60 billion Cursor acquisition weigh on the post-IPO rally.
Posted inTech
Alphabet sells $80 billion in stock for AI infrastructure as Berkshire bets $10 billion
Alphabet launched an $80 billion equity raise on June 1 to fund AI infrastructure, with Warren Buffett’s Berkshire Hathaway committing $10 billion in what became an oversubscribed offering.