WS #10535

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Nasdaq falls ~2%, chip stocks hit hardest (Nvidia, Intel down 5-20%) on AI spending sustainability concerns; Korea AI rout revives scrutiny of $290B levered-ETF boom. Oracle cuts 21,000 jobs (13% of workforce) to offset AI transition costs. Alibaba sues US Department of Defense over 'Chinese military company' designation.

Tech/Semiconductor Selloff Intensifies

Nasdaq falls ~2%, chip stocks hit hardest (Nvidia, Intel down 5-20%) on AI spending sustainability concerns; Korea AI rout revives scrutiny of $290B levered-ETF boom.

Oracle cuts 21,000 jobs (13% of workforce) to offset AI transition costs.

Alibaba sues US Department of Defense over 'Chinese military company' designation.

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