OpenAI's an anchor 🦹♂️
"As a result, the shares of companies in OpenAI’s orbit —principally Oracle Corp, CoreWeave, and Advanced Micro Devices, but also Microsoft, Nvidia, and SoftBank, which has an 11% stake in the company —are coming under heavy selling pressure.
"Meanwhile, Alphabet’s momentum is boosting not only its stock price, but also those it’s associated with like Broadcom, Lumentum Holdings, Celestica, and TTM Technologies.
"The shift has been dramatic in magnitude and speed.
"Just a few weeks ago, OpenAI was sparking huge rallies in any company related to it. Now, those connections look more like an anchor.
"It’s a change that carries wide-ranging implications, given how central the closely held company has been to the AI mania that has driven the stock market’s three-year rally."
Comments
Post a Comment
Empathy recommended