Heard on the Street Thursday Recap: More AI Jitters

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The Nasdaq composite experienced a significant decline, primarily driven by losses in major AI stocks like Nvidia, AMD, and CoreWeave. Concerns may be arising from OpenAI's potential reliance on government support for data center infrastructure, as suggested by CFO Sarah Friar.

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Market impact analysis based on bearish sentiment with 90% confidence.

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Bearish
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90%

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The Nasdaq composite sank nearly 2% as major AI names took on more water. Nvidia shares fell 3.7% while AMD lost more than 7% and CoreWeave tumbled 6.6%. At our Tech Live conference, OpenAI Chief Financial Officer Sarah Friar seemed to suggest the ChatGPT parent was seeking support from the federal government for its data-center buildout.

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