Tech just got wrecked. Nasdaq down 2.15%, $SPX lost 1.10%. The AI infrastructure narrative is cracking.
Here's what's breaking:
CoreWeave bonds are trading at 15%+ yields. That's distressed territory. When an $NVDA-backed AI infra play is getting hammered like this, the market is screaming one thing: too much debt, not enough revenue to justify it.
Nebius and IREN also bleeding. Investors are finally asking the right question: can AI service revenue actually cover these massive data center buildouts?
Semis got crushed too. Intel down 5.8%, Micron down 5.6%. The entire supply chain is repricing risk.
Meanwhile, oil ripped 3%+ on Middle East supply fears. CPI came in hot at 3.7% YoY. Translation: Fed stays hawkish, borrowing costs stay elevated, and growth stocks get their valuations compressed.
Even Anthropic's rumored IPO valuation dropped from $2T to $1.5T. That's a 25% haircut before they even hit public markets.
Nasdaq worst week since June, down 4.5%. This isn't just a dip, it's a repricing of the AI trade. The easy money phase is over. Now we separate real builders from leveraged bets.
Here's what's breaking:
CoreWeave bonds are trading at 15%+ yields. That's distressed territory. When an $NVDA-backed AI infra play is getting hammered like this, the market is screaming one thing: too much debt, not enough revenue to justify it.
Nebius and IREN also bleeding. Investors are finally asking the right question: can AI service revenue actually cover these massive data center buildouts?
Semis got crushed too. Intel down 5.8%, Micron down 5.6%. The entire supply chain is repricing risk.
Meanwhile, oil ripped 3%+ on Middle East supply fears. CPI came in hot at 3.7% YoY. Translation: Fed stays hawkish, borrowing costs stay elevated, and growth stocks get their valuations compressed.
Even Anthropic's rumored IPO valuation dropped from $2T to $1.5T. That's a 25% haircut before they even hit public markets.
Nasdaq worst week since June, down 4.5%. This isn't just a dip, it's a repricing of the AI trade. The easy money phase is over. Now we separate real builders from leveraged bets.