Wall Street, Asia and stock
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The U.S. stock market is slumping as superstars swept up in the mania around artificial-intelligence technology keep weakening. The S&P 500 fell 1.5% Thursday.
An investor famous for betting against the housing market before it collapsed now has his sights on companies at the forefront of the AI boom.
AI bellwether Nvidia is slated to report its quarterly results next Wednesday in what could be a make-or-break moment for the AI-driven bull market.
The tech-heavy Nasdaq Composite index had its worst week since April, which was sparked by the revelation of a well-known hedge fund manager's bearish bets on popular AI stocks Nvidia and Palantir.
By Purvi Agarwal and Noel Randewich (Reuters) -Wall Street stocks were mixed on Tuesday, with Nvidia and other artificial intelligence-related companies falling on renewed concerns about elevated valuations,
AI chip designer NVIDIA Corporation (NASDAQ:NVDA) was in the news last week after CEO Jensen Huang commented that the US was going to lose to China in the AI race.
These stocks have modest valuations in the tech sector and incredibly strong businesses set to thrive thanks to their AI efforts.
US stock futures saw a slight change after Wall Street experienced a significant downturn. Major indices like the Dow Jones, S&P, and Nasdaq futures showed modest gains. This followed a sharp fall on Thursday,
Some well-known investors are feeling bearish about Nvidia Corp., which is causing the stock to decline on Tuesday. Last week, famous Wall Street short-seller Michael Burry [revealed](