#纳指100本周跌5.5%创18个月最大周跌幅
Even Old Ma’s flying cars can’t save it
[Old Chive Watch] The Nasdaq 100 fell 5.5% in a week—is the AI rally starting to buckle too?
U.S. stocks had a rough week. The Nasdaq 100 fell about 5.5% over the week, its biggest weekly drop in 18 months. Tech stocks and AI-related shares, which had been propping up the market, were the main drivers of the decline this time.
The issue isn’t just that prices have risen too much and need a pullback.
The market had been willing to give AI companies very high valuations because investors believed the money being poured in today would translate into even greater revenue and profits down the road. But now investors are asking: With so many data centers being built and so many chips being bought, how much money will all this actually make?
On top of that, hotter-than-expected inflation data and rising oil prices are adding to uncertainty around financing costs and future interest rates. That puts even more pressure on AI infrastructure companies that need to keep borrowing to expand.
This isn’t entirely irrelevant to crypto, either. $BTC may have its own sources of funding and investment narrative, but when the market as a whole starts reducing risk exposure, crypto assets can also feel the effects. In particular, if U.S. tech stocks continue to weaken, it’s hard for short-term risk appetite to remain unaffected.
Still, a decline in U.S. stocks doesn’t mean BTC will necessarily fall too. What really matters is whether tech stocks can stabilize, and whether the market is simply digesting short-term profit-taking or beginning to reassess the returns on AI investment.
The AI story isn’t over, but the market is no longer willing to settle for just a story. From here on, results will have to do the talking.
Even Old Ma’s flying cars can’t save it
[Old Chive Watch] The Nasdaq 100 fell 5.5% in a week—is the AI rally starting to buckle too?
U.S. stocks had a rough week. The Nasdaq 100 fell about 5.5% over the week, its biggest weekly drop in 18 months. Tech stocks and AI-related shares, which had been propping up the market, were the main drivers of the decline this time.
The issue isn’t just that prices have risen too much and need a pullback.
The market had been willing to give AI companies very high valuations because investors believed the money being poured in today would translate into even greater revenue and profits down the road. But now investors are asking: With so many data centers being built and so many chips being bought, how much money will all this actually make?
On top of that, hotter-than-expected inflation data and rising oil prices are adding to uncertainty around financing costs and future interest rates. That puts even more pressure on AI infrastructure companies that need to keep borrowing to expand.
This isn’t entirely irrelevant to crypto, either. $BTC may have its own sources of funding and investment narrative, but when the market as a whole starts reducing risk exposure, crypto assets can also feel the effects. In particular, if U.S. tech stocks continue to weaken, it’s hard for short-term risk appetite to remain unaffected.
Still, a decline in U.S. stocks doesn’t mean BTC will necessarily fall too. What really matters is whether tech stocks can stabilize, and whether the market is simply digesting short-term profit-taking or beginning to reassess the returns on AI investment.
The AI story isn’t over, but the market is no longer willing to settle for just a story. From here on, results will have to do the talking.