Rough day for chips. I went through the 26 I follow, and every single one closed lower. It all started with one headline. The Financial Times reported that OpenAI is telling investors its revenue is running near 50 billion a year, when everyone had been hearing 70 Billion. Part of that gap is just how companies count revenue, but the market wasn’t in the mood for footnotes. So the AI names took the worst of it, down about 4% on average. The companies that sell chip design software fell less than half as much. The one I keep looking at is Nvidia. It closed at 230.5, and the floor I’m watching this week is 228, so it’s still holding. Intel already lost its floor. Tomorrow the weekly close is the one that counts. So what was today? The first real doubt about AI spending, or just the price of being the most crowded trade out there? Not investment advice. Find more of my deep dives on my newsletter 🐝
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4 Comments
Fraidoon Latifi
@latifi · 13d
Learning everyday from your posts. Thanks
Lotus Life
@blossomll · 13d
Your posts are quite informative. Thank you
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