A wave of selling has wiped more than a trillion dollars from global semiconductor stocks in days, triggered by China's domestic chip advance and growing doubts about whether the world's biggest tech companies can earn back their vast AI investments.
BNY Mellon, Goldman Sachs, and Citizens Financial priced preferred-share offerings this week at spreads not seen since before Lehman Brothers collapsed, raising questions about how much risk investors are actually being paid to take.
Apple overtook Nvidia on Friday as the world's most valuable publicly listed company, closing at a market capitalisation of $4.88 trillion. The shift reflects growing investor doubt about the pace of AI infrastructure spending and renewed confidence in Apple's leaner approach to the technology.
Legendary investor Howard Marks has labelled the imminent public listings of SpaceX, Anthropic, and OpenAI a "money-losing bubble", as the three firms prepare to flood global markets with roughly $3 trillion in combined valuation.
The head of one of the world's largest independent financial advisory firms says a sweeping reallocation of capital away from mega-cap technology stocks is now underway — and could be the most significant market shift since the post-pandemic recovery.
Global tech shares fell on Friday as investors sold back into semiconductor stocks, reversing a Thursday surge driven by Micron's blowout quarterly results. The reversal reflects deepening uncertainty about whether AI infrastructure spending will translate into profits to justify soaring valuations.
SpaceX stock has fallen sharply just days after its record-breaking Nasdaq debut, as early investors take profits and questions mount over the company's $2.5 trillion valuation. The pullback dragged rival space stocks down with it.