CEO Of Tech Titan States AI Investors Have 'No Clue'

What happened: The AI narrative that drove major index gains since late 2022 weakened this week. The Philadelphia Semiconductor Index (SOX) entered official correction territory on Wednesday, and CoreWeave shares fell over 60% from post-IPO highs. Key numbers: CoreWeave down over 60% from post-IPO highs. Why it matters: The selloff hit AI infrastructure names including DOCN, HUT, NBIS, and IREN after negative sector headlines and warnings. Bond yields reflect market doubts about solvency and future profitability.

The AI narrative that drove major index gains since late 2022 weakened this week. The Philadelphia Semiconductor Index (SOX) entered official correction territory on Wednesday, and CoreWeave shares fell over 60% from post-IPO highs.

The selloff hit AI infrastructure names including DOCN, HUT, NBIS, and IREN after negative sector headlines and warnings. Bond yields reflect market doubts about solvency and future profitability.