As US chip darlings struggle, some bet on software as next big AI play
Chip stocks were the biggest beneficiaries of last year’s artificial intelligence investment craze, but they have stumbled so far this year.
Chip stocks were the biggest beneficiaries of last year’s artificial intelligence investment craze, but they have stumbled so far this year.
The tech-heavy Nasdaq led Wall Street declines, hitting a six-week low after fresh economic data indicated a deterioration in consumer sentiment.
The Dow Jones Industrial Average hit a new record high, topping 45,000 for the first time and making a run for its 47th record close, before falling on Wednesday afternoon.
Wall Street had another big day with the Dow and S&P 500 hitting another intraday record high, just a day after the Federal Reserve cut interest rates by half-a-percentage point and forecasted that more cuts could be coming.
Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve kicked off its easing cycle with half-a-percentage point reduction.
Wall Street’s main indexes were mixed on Wednesday, with technology stocks attempting to find a floor after recent selloff.