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China’s Moonshot AI Adds to Chip Investors’ Worries
The Wall Street Journal20d agobearish
China’s Moonshot AI Adds to Chip Investors’ Worries

The surprise release of a breakthrough artificial-intelligence model from China intensified a selloff in chip stocks on Friday, fueling concerns about competition in AI and massive corporate spending that underpins its build-out. Tech stocks led a Friday selloff that by late afternoon had broadened to envelop 10 of 11 sectors in the S&P 500 index. The latest trigger was China’s Moonshot AI, which unveiled its Kimi K3 large language model on Friday.

Nasdaq Drops Again as Chip Slump Deepens
The Wall Street Journal20d agobearish
Nasdaq Drops Again as Chip Slump Deepens

MARKETS PM NEWSLETTER This is an edition of the Markets P.M. newsletter, a recap of the day’s most important markets moves, delivered after the closing bell. If you’re not subscribed, sign up here. What Happened in Markets Today The chip-stock selloff deepened, dragging the tech-heavy Nasdaq down 1.

How Apple’s big lawsuit could disrupt OpenAI’s IPO plans
TechCrunch20d agobearish
How Apple’s big lawsuit could disrupt OpenAI’s IPO plans

Apple filed a trade secrets lawsuit against OpenAI last Friday, and it’s not messing around. The complaint alleges a pattern of misconduct reaching all the way up to OpenAI’s chief hardware officer and claims more than 400 former Apple employees now work at the company. OpenAI’s response so far has been carefully hedged, and the timing couldn’t be worse with the company reportedly eyeing an IPO […]

Bloomberg20d agobearish
Lucid Shares Shake Off Bankruptcy Fears to Rebound from 57% Rout

(Bloomberg) -- Lucid Group Inc., the electric-vehicle maker, said it isn’t considering a bankruptcy, and so far, the market believes it.Most Read from BloombergFCC Near Rulings Against Disney Over ‘The View,’ TV LicensesChip Stocks Poised for Bear Market in AI Unwind: Markets WrapGoogle Gemini Launch Delayed as Tech Falls Short of Internal GoalsChina’s Moonshot Unveils AI Model That Narrows Gap With US FirmsThailand Scraps Plan to End Visa-Free Entry for Indian TouristsThe Saudi-backed company i

Netflix Stock Tumbles on Growth Worries
The Wall Street Journal20d agobearish
Netflix Stock Tumbles on Growth Worries

Investors continued to punish Netflix on Friday after the company’s second-quarter earnings failed to ease concerns about weak viewer engagement and slowing growth. While the streaming giant reported solid second-quarter revenue and profit, it forecast a third-quarter revenue gain that would be its smallest year-on-year increase of any quarter since late 2023. Netflix also said it would shift to releasing its closely-watched viewership report annually, rather than twice a year.

Oppenheimer sends warning on IBM after shares crash
TheStreet20d agobearish
Oppenheimer sends warning on IBM after shares crash

The most dangerous moment for a stock is rarely when the skeptics pile on. It is when the last true believer quietly heads for the door. Wall Street runs on a simple hierarchy. There are the analysts who never liked a company, the ones who flip with the wind, and the rare few who plant a flag and ...

Investing.com20d agobearish
Netflix, Intuitive Surgical tumble premarket

Investing.com - U.S. stock index futures fell sharply on Friday, pointing to a second straight day of losses on Wall Street as investors continued to reassess lofty technology valuations following a string of disappointing corporate updates tied to artificial intelligence spending.

Chip Selloff Is Just a Wobble, JPMorgan Strategist Says
The Wall Street Journal20d agobearish
Chip Selloff Is Just a Wobble, JPMorgan Strategist Says

Chip makers are selling off premarket as investors pare back investments in artificial intelligence-linked stocks. Intel, Micron and Sandisk are on track to notch double-digit losses for the week, while large tech names in Asia have cratered.

Netflix Poised for Biggest One-Day Drop in Years
The Wall Street Journal20d agobearish
Netflix Poised for Biggest One-Day Drop in Years

Netflix shares are trading down more than 10% premarket after the company issued a third-quarter revenue forecast that raised concerns about its growth. The decline took off in earnest last year when Netflix was exploring a bid for Warner Bros. Discovery’s studio and streaming service. Netflix joins a list of other companies—including PayPal—whose stock soared during the pandemic and the following years, only to stumble as investors' attention turned to other areas of the market.

Meta (META) Faces Employee Lawsuit Over AI Assisted Layoffs
Simply Wall St.20d agobearish
Meta (META) Faces Employee Lawsuit Over AI Assisted Layoffs

Meta Platforms (NasdaqGS:META) has been hit with a federal lawsuit filed by employees over AI-assisted layoffs. The suit alleges that Meta's use of AI in personnel decisions discriminated against protected groups, including workers with disabilities and pregnant employees. Plaintiffs are seeking to halt further layoffs and are calling for an independent audit of Meta's AI systems used in workforce management. Meta Platforms, the parent company of Facebook, Instagram, WhatsApp and other...

The Semiconductor Selloff Is Going From Bad to Worse
The Wall Street Journal20d agobearish
The Semiconductor Selloff Is Going From Bad to Worse

19% That's how much the PHLX Semiconductor Index has tumbled from its June high. The index's biggest components include AI heavyweights including Nvidia, Micron Technology, Broadcom and Applied Materials, all of which have come under pressure in recent weeks.