WS #11101
Global tech selloff continues as investors question AI spending returns, with Oracle falling on capital raise concerns and Cerebras dropping on margin forecast. Micron's gross margin surged to 84.9% and revenue quadrupled, confirming the memory crunch and AI-driven demand, but the stock's gain was selective within the sector. Hang Seng Index fell to a one-year low, Alibaba hit 16-month low after Anthropic IP theft accusation, Trip.com warned of antitrust fine, and SMIC's Big Fund stake increased.
Tech Selloff and AI Spending Doubts
Global tech selloff continues as investors question AI spending returns, with Oracle falling on capital raise concerns and Cerebras dropping on margin forecast.
Micron's gross margin surged to 84.9% and revenue quadrupled, confirming the memory crunch and AI-driven demand, but the stock's gain was selective within the sector.
Hang Seng Index fell to a one-year low, Alibaba hit 16-month low after Anthropic IP theft accusation, Trip.com warned of antitrust fine, and SMIC's Big Fund stake increased.