WS #11200
Nasdaq fell 0.66% while Dow hit new all-time high; semiconductor stocks (KLA, Teradyne, Micron) plunged on Meta cloud pivot fears, with neocloud providers CoreWeave and Nebius hit hardest. Meta announced a cloud-computing venture to sell excess AI computing capacity, sending META up ~8.8% but crushing neocloud competitors CoreWeave and Nebius.
Tech Rotation / Semiconductor Selloff
Nasdaq fell 0.66% while Dow hit new all-time high; semiconductor stocks (KLA, Teradyne, Micron) plunged on Meta cloud pivot fears, with neocloud providers CoreWeave and Nebius hit hardest.
Meta announced a cloud-computing venture to sell excess AI computing capacity, sending META up ~8.8% but crushing neocloud competitors CoreWeave and Nebius.