Nvidia and other AI stocks are getting dragged down by Microsoft and Meta

found 31 Oct Quartz

qz.com › nvidia-smci-amd-mu-avgo-ai-stocks-down-microsoft-and-me-1851686429

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Despite posting robust quarterly profits, Microsoft (MSFT) and Meta (META) shares slumped Thursday as both tech giants signaled substantial future AI spending requirements and slower growth prospects. The companies that have emerged as leaders in the AI sector saw their stocks decline despite heavy investments in…

The Dow falls 400 points and the Nasdaq sinks 450 as Microsoft and Meta lead a tech stock selloff

found 31 Oct Quartz

qz.com › djia-sp500-nasdaq-microsoft-meta-tech-stocks-inflation-1851686136

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The Dow Jones Industrial Average fell more than 400 points Thursday mid-morning, alongside sharp Nasdaq and S&P 500 declines, following weaker-than-expected earnings reports from Microsoft (MSFT) and Meta (META). Super Micro Computer (SMCI) stock continued to fall following the resignation of Ernst & Young, the…

Meta is on an AI spending spree. It's only going to get bigger

found 31 Oct Quartz

qz.com › meta-facebook-q3-2024-earnings-ai-spending-investments-1851686140

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Facebook parent Meta Platforms (META) has invested billions of dollars into artificial intelligence as it looks to keep pace with its Magnificent 7 competitors. The tech giant warned that this spending will only grow into next year and beyond.