"Live Coverage Updates appear automatically as they are published. Live Updates Even with tech coming under pressure, markets are green this morning. The S&P 500 is down 20 points, or by 0.31%. The SPDR S&P 500 ETF ( SPY) is down about two points, or by 0.23%. The Dow is up about 0.16%, or by 80 points. The Nasdaq is down 155 points. Bitcoin is down another $818 to $68,035, as gold sinks below $5,000. Silver is also back to $75 an ounce."
"Second, there are concerns that hyperscalers are spending too much on AI capex, and that such big investments won't pay off moving forward. But both can't be true, say the analysts. "If AI companies are going to disrupt, destroy, and replace all software companies, those AI stocks should be more valuable. Or if AI is overvalued and those big capital expenditures are never going to pay off, software stock investors should be less worried about their companies getting wrecked by AI,""
U.S. markets showed mixed movement with the S&P 500 down about 0.31% (20 points), the Dow up roughly 0.16% (80 points), and the Nasdaq down about 155 points. Bitcoin fell about $818 to $68,035 while gold moved below $5,000 and silver returned to $75 per ounce. Major tech names slid: NVIDIA down 0.74%, AMD down 2.24%, Micron down 2.63%, and Alphabet down 1.5%. JPMorgan warned that two prevailing narratives—AI destroying software firms versus hyperscalers overspending on AI capex—are logically inconsistent. NVIDIA's upcoming earnings and increased AI capex by hyperscalers will largely dictate market direction.
Read at 24/7 Wall St.
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