Apple stock jumped Monday, proving itself resilient to the widespread AI stock sell-off Monday prompted by the release of Chinese firm DeepSeek’s new cost-effective artificial intelligence model.
AI stocks fell across the board as the investment community absorbed news of a potentially more cost-effective Chinese AI model — and began to question the Western world’s gargantuan spending on AI infrastructure.
Measurement equipment distributor Transcat (NASDAQ:TRNS) missed Wall Street’s revenue expectations in Q4 CY2024 as sales rose 2.4% year on year to $66.75 million. Its non-GAAP profit of $0.45 per share was 10% below analysts’ consensus estimates.
AI-exposed power stocks tumbled alongside a tech sell-off as Chinese startup DeepSeek sparked investor concerns over AI chip spending by US companies.
Intel is expected to report fourth-quarter results after the market closes Thursday, with analysts expecting the chipmaker to swing to a loss.
Nvidia (NVDA) addressed its tumbling stock on Monday by saying Chinese artificial intelligence startup DeepSeek will need more of its chips for new models.
Liang Wenfeng started DeepSeek in 2023, aiming to develop artificial general intelligence.
(Bloomberg) -- The tech-led rout that gripped US equity markets on Monday left one corner of the market relatively unscathed: the Dow Jones Industrial Average.Most Read from BloombergWhat Happened to Hanging Out on the Street?Vienna Embraces Heat Pumps to Ditch Russian GasTexas HOA Charged With Discrimination for Banning Section 8 RentersBudapest Mayor Aims to Block Orban’s Plans to Build ‘Mini Dubai’Billionaire Developer Caruso Slams LA Leadership Over WildfiresBuoyed by rallies of at least 2.8
Shares of Apple charged higher on Monday, bucking the trend as its large-cap tech peers tumbled on concerns about overspending on AI.
There's plenty of red to be found on traders' screens today, with the S&P 500 and the more tech-focused Nasdaq Composite dropping sharply. The Dow, on the other hand, is holding up.