AI Worries Spark Tech Selloff, Leaders Honor Life of Sen. Graham, More
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What is the main topic discussed in this episode?
Next week on Leaders, with me, Francine Lacqua. I speak with investor and entrepreneur Amanda Stavely on the boldest deal of her career.
That was bold. That was brave.
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It was the toughest decision I've made.
And what she's looking for in her next football club.
I just want a challenge, and that's what excites me.
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news when you want it with bloomberg news now i'm amy morris a sell-off in semiconductor stocks deepened as signs of progress in china's advanced chip making compounded worries about the sustainability of the ai spending boom mandeep singh is global head of tech research for bloomberg intelligence it's the market expressing its nervousness around that negative free cash flow and uh
Really not enough ROI to justify all this increase. There is ROI. We saw that in Alphabet's print, but the market didn't feel like this was enough to give them a pass and, you know, for the stock to go up.
Hear more from Mandeep Singh on the Bloomberg Intelligence podcast. The Nasdaq 100 index trading near a correction, the index falling nearly three quarters of a percent. NVIDIA CEO Jensen Huang reportedly met with Commerce Secretary Howard Lutnick today as the Trump administration investigates potential violations involving NVIDIA chip exports to China. Axios reports it is not immediately clear exactly what the men discussed. It has been reported that Huang would be holding meetings across Washington this week. including with Virginia Senator Mark Warner on the Intelligence Committee. SpaceX shares have erased a fifth of their value since its record-setting debut, the company now shedding more than $1.2 trillion in market value from its peak, SpaceX now 1.5% higher.
Apple became just the second company ever to achieve a $5 trillion market valuation. It has since dipped back below that mark, but if the stock closes above $340.43, It will cross that threshold. Apple shares right now less than 1% higher, just shy of $340 per share. Oil is lower, outweighing the chip sell-off. That's moving stocks higher. We check markets for you all day long here at Bloomberg. The S&P 500 is up 0.3%. NASDAQ little changed on the downside. The Dow up 1.2%. The 10-year Treasury yield at 4.59%.
Why did semiconductor stocks sell off amid AI spending optimism?
The two-year yield at 4.26%. Crude oil now about 5% lower. WTI around $79 a barrel and Brent crude near $84 a barrel. The Philadelphia Semiconductor Index now down more than 4%, led by Micron, which has fallen nearly 9%. Consumer confidence fell in July. Americans' views about current business conditions and the labor market deteriorating. The conference board's gauge of confidence decreased 1.4 points. That's down to 90.8. That's after an upward revision the month before. Senior U.S. economist Yelena Shurleteva with the conference board says this is all part of a downward trend.
If you look at the labor differential, it was still depressed. Consumers continue to assess labor market conditions as low. There are not that many jobs available. So there's nothing really much changed in this perspective.
Senior U.S. economist Yelena Shaliteva with the Conference Board on Bloomberg Intelligence. Washington Today says goodbye to longtime South Carolina Senator Lindsey Graham. A ceremony being held at the Capitol Hill Rotunda and a funeral service is set for this afternoon at the National Cathedral. Senator John Thune.
Lindsey was a towering figure here in the Senate and on the international stage. His leadership on national security and on our national defense is well known. I travel with Lindsay all over the world as part of congressional delegations, and I saw firsthand just how much he was respected by our allies.
How are analysts explaining weak ROI concerns for AI chip investments?
President Trump is expected to give the eulogy. Ukrainian President Vladimir Zelensky and Israeli Prime Minister Benjamin Netanyahu are expected to be there as well. Netanyahu also had a lengthy meeting at the White House with President Trump to discuss the latest with Iran.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:01–2:31
2
Why did semiconductor stocks sell off amid AI spending optimism?
2:31–4:14
3
How are analysts explaining weak ROI concerns for AI chip investments?
4:14–6:42
4
What meetings did NVIDIA's CEO hold amid export investigations to China?
6:42–7:06
Speakers
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