A bruising week for technology stocks has raised fresh questions about whether the artificial intelligence-fuelled market rally is becoming too volatile for comfort. A selloff that began on Monday gathered momentum throughout the week, rippling through markets from Seoul to Silicon Valley. Investors grew uneasy about the sheer scale of spending on AI infrastructure, the
ON Semiconductor shares plunged about 21% on Friday after the chipmaker announced a $7 billion acquisition of Synaptics, a deal aimed at strengthening its position in the emerging market for physical artificial intelligence. The sharp decline suggests investors remain cautious about the benefits and integration risks of the transaction despite management and several analysts describing
Figma’s stock price has imploded since its initial public offering (IPO) last year as the exuberance that fueled its private-market valuation collided with the realities of life as a publicly traded company. FIG dropped to $16 on Thursday, down sharply from the all-time high of $142. Private valuation and public reality Figma is one of
US consumer sentiment improved in June from near-record lows as declining gasoline prices and easing geopolitical tensions provided some relief to households still grappling with elevated living costs. The University of Michigan’s consumer sentiment index rose to 49.5 in June from 44.8 in May, exceeding economists’ expectations of a reading of 49, according to a
Nvidia stock (NVDA) fell again on Friday as a broader technology-sector selloff continued to pressure artificial intelligence stocks, leaving the chipmaker on track for its worst weekly performance in more than a year. The stock declined about 1.5% to $192.35 in early trading. If losses hold through the close, Nvidia would finish the week down
Shares of Quantum Cyber (NASDAQ: QUCY) surged 24% on Friday after the company announced that its board had approved pursuing the acquisition of an equity stake in SpaceX (NASDAQ: SPCX). The company said the proposed investment is driven by the strategic alignment between the two firms’ defense and communications capabilities. The company said its board
US stocks opened higher on Thursday, led by gains in technology shares as strong earnings updates from Micron Technology and Qualcomm reignited optimism around artificial intelligence demand. The Dow Jones Industrial Average was up 270 points or 0.52%. The S&P 500 and the Nasdaq Composite climbed 0.60%. Micron surged 19% in trading after reporting fiscal
Cathie Wood’s Ark Innovation Fund (ARKK) ETF stock has remained inside a narrow range in the past few months. ARKK has remained between the support and resistance levels at $72.68 and $82.35 since April. It has risen by 9% in the last 12 months, while the Nasdaq 100 Index has soared by 28%. ARKK has
US inflation accelerated further in May, with a key measure of price pressures climbing above 4% for the first time in more than three years as higher energy prices stemming from the Middle East conflict filtered through the economy. The Commerce Department’s Bureau of Economic Analysis said on Thursday that the personal consumption expenditures (PCE)
Canopy Network, a blockchain development framework focused on AI-assisted application building, has announced an $8.5 million seed funding round to support its next stage of growth. The funding will be used to support Canopy’s planned mainnet launch, expand its engineering team, and further develop its developer tooling. The company also completed a strategic acquisition of