Oracle Leads a Tech Rally as Industry Dips in AI-Fueled Week
TL;DR Summary
Oracle jumped about 12% during a choppy tech week after unveiling plans to fund AI cloud infrastructure, while other top AI names like Microsoft and Amazon sank into bear market territory and Apple faced margin pressures from higher memory prices; Nvidia drifted lower despite good AI headlines. The Magnificent Seven were all negative year-to-date, underscoring a broader tech rout even as Oracle’s rally suggested shifting sentiment around AI investments.
- Oracle Surges 12% While Apple, Amazon Tumble in Choppy Tech Week 24/7 Wall St.
- Hyperscalers have lost $1 trillion in market cap over AI overspend jitters Axios
- Manus on Markets: Tech giants tumble as AI challengers capture billions in fresh capital thenationalnews.com
- After the earnings reports, the market capitalization of the four major U.S. cloud companies dropped by one trillion U.S. dollars, with the market even seeking to hedge against 'large company risks.' 富途牛牛
- Trillion-dollar AI market wipeout happened because investors banked that 'almost every tech company would come out a winner' MSN
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