GoKawiil
Tech News
South Korean data-center startup Elice saw its stock fall as much as 36% in afternoon trading on its first day as a publicly listed company in Seoul. The sharp decline came despite the company's AI-infrastructure focus, an area that has generally drawn strong investor interest.
Futures point to a higher open for tech stocks, led by the Nasdaq, following a week in which AI-related shares tumbled and the index fell 4.5%. Yorkville Ives partner Dan Ives called the drawdown a 'golden buying opportunity,' while BTIG urged clients to use any semiconductor rebound to cut exposure. CoreWeave and Nebius, both down sharply last week, were also set to open higher Monday.
The Nasdaq posted its worst weekly performance since June, falling 4.5% and ending a four-week winning streak, while the S&P 500 dropped 2%. The Dow Jones Industrial Average rose 0.7% as investors shifted toward healthcare and consumer staples. The decline accelerated after September's consumer price index rose 3.7% year-over-year and producer prices jumped 6.3% annually, the largest gain since 2022.
Dell Technologies stock fell 11% on Wednesday, pulling down Hewlett-Packard Enterprise, Oracle, Super Micro and NetApp amid worries that enterprise AI spending won't match the scale of the ongoing data center buildout. Barclays analysts cut ratings on Dell, HPE and NetApp from buy to hold, saying they see no 'meaningful AI inflection' in enterprise demand and attributing recent revenue gains largely to a global memory shortage rather than AI adoption.
Jim Cramer told CNBC viewers not to abandon semiconductor stocks despite a six-session, 7.2% drop in the VanEck Semiconductor ETF, arguing chip names are now trading as a bloc rather than on individual fundamentals. He cited Micron's 26 long-term customer agreements covering about 35% of revenue through 2030 as evidence of durable demand, and pointed to Intel and AMD as CPU suppliers benefiting from broader device demand.
Meta launched its autonomous AI agent Muse on Sept. 8, which can search, compare prices, and complete purchases on retail sites without human input at each step. The app has surpassed 5 million downloads and 3 million weekly active users, briefly overtaking ChatGPT atop Apple's U.S. App Store, while Meta's stock has risen more than 17% since launch.
On April 7, 2025, U.S. stocks experienced a sharp decline before a false report about a tariff pause circulated on X, suggesting that AI agents involved in market interpretation may propagate misinformation if sources are unreliable or lack context. This incident highlights the increasing reliance on AI for financial decision-making and the risks of errors spreading rapidly.
Jim Cramer explained that increasing borrowing costs are creating a divide in the stock market, with traditional sectors facing constraints while AI-related companies remain largely unaffected. The recent Treasury bond auction, which saw strong demand and a brief yield spike, underscored the importance of borrowing costs for equities. AI firms like data centers, semiconductors, and cybersecurity companies continue to access financing easily, contributing to their market outperformance.
U.S.-listed shares of Brazil-based financial firms including Nu Holdings, Banco Bradesco and PagBank jumped by double-digit percentages in premarket trading Monday. The moves followed news that Brazil's presidential race is headed to a runoff.
Jim Cramer argued that investors are too pessimistic about an AI-driven selloff dubbed 'consumer inertia,' triggered by fears that Meta's Muse AI agent could help consumers cancel subscriptions and shop around instead of staying passively loyal. Since Muse launched September 8, stocks including Planet Fitness, Airbnb, Booking Holdings, SiriusXM and Charles Schwab have all fallen sharply. Cramer compared the panic to the earlier 'SaaSpocalypse' selloff in enterprise software stocks, which later recovered as fears of AI disruption proved overstated.
Bitcoin rose 37% over 39 days to reach an eight-month high near $86,000 on Monday, according to Yahoo Finance. The rally followed Congress's failure to pass a crypto 'Clarity Act' and the SEC's announcement of a five-year 'innovation exemption' allowing tokenized U.S. stocks to trade via automated market makers on public blockchains, per CoinDesk.
After the Clarity Act failed to advance in the Senate, the SEC issued an order creating a temporary pathway for trading tokenized stocks, and the CFTC submitted a crypto rulemaking proposal to the White House for review the same day. Details of the CFTC proposal have not been made public, though the Office of Management and Budget confirmed it is pending review.