Downturn


"A few months ago, any kind of agreement with OpenAI could make a share price go up. 

"OpenAI did very nicely out of its power to reflect glory, most notably in October when it took AMD warrants as part of a chip deal that bumped share price by 24 per cent.

"But Oracle is not the only laggard. Broadcom and Amazon are both down following OpenAI deal news, while Nvidia’s barely changed since its investment agreement in September. 

"Without a share price lift, what’s the point? A combined trillion dollars of AI capex might look like commitment, but investment fashions are fickle."

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