Bloomberg’s Caroline Hyde discusses the wild ride markets have been on as AI and crypto anxiety hit investors. Plus, OpenAI is teaming up with Foxconn to design AI data center hardware in the US. And Cerebras CEO Andrew Feldman shares his thoughts on the US approval for advanced AI chips to be sold to the Middle East.See omnystudio.com/listener for privacy information.
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Bloomberg Audio Studios. Podcasts. Radio. News. Bloomberg Tech is live from coast to coast with Caroline Hyde in New York and Ed Ludlow in San Francisco. This is Bloomberg Tech coming up. AI and crypto anxiety. It sends stocks on a wild ride amid volatile trading. We'll have the details. This is OpenAI teams up with Foxconn to design AI data center hardware in the United States.
And we speak with the CEO of Cerebrus about the US's approval of selling advanced AI chips to the Middle East. All of this coming in the context of deepening market anxiety after we are whipsawed time and time again. Let's just check out what's happened on the markets over the course of the five trading days. What a week it has been. It is off by 4 percent for the Nasdaq.
This is the worst week we've seen for the Nasdaq 100 since April since of course the first concerns about trade tariffs came into the market. We are seeing significant pressure on some of your biggest AI winners. Let's move on and see how some of the Nasdaq key points contributors are doing on this day. Nvidia off by 2.7%.
Nvidia is now down 8% over the course of five trading days, but Oracle on course for its worst week since March 2018. The AI bubble anxiety continues, and we want to dig into all of that and the market reaction this week with Bloomberg's equities reporter, Carmen Reinecke, who has been across the story day in, day out.
Carmen, why are we seeing this ongoing pressure on some of the biggest winners? Yeah, it's really interesting and like what a week it's been, right? You know, we have NVIDIA with this blowout earnings report and then two down days immediately following it.
Really what seems to be happening is there are so many macro pressures on the market right now that that's adding a lot of weight and dragging down the major indexes. But at the same time, we're seeing that NVIDIA's report, as good as it was, wasn't enough to quell some of these overall AI fears, right? And so we're seeing a sell-off, we're seeing a very risk-off trend.
you know, mentality in the markets right now. And one thing that has been kind of interesting is looking at the stocks that are up today. We're actually seeing Apple outperform, and it usually has lately sort of been opposite of these big AI names because it doesn't have a huge AI piece of the puzzle. And then we're also seeing Google up, which is still some really big optimism after Gemini 3.
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