AI Stocks Steady After Nasdaq's Steepest Drop in Months

Big AI stocks traded mixed on Friday, a day after the Nasdaq Composite Index posted its steepest decline in four months, offering investors a respite as they await Anthropic's IPO and more tech earnings. Meta Platforms, which fell 7% on Thursday after announcing a new share class to fund capital spending, was fractionally lower. Other major players were mixed, with SpaceX, Oracle and Dell up 1% to 2%, while Nvidia, Alphabet and Amazon slipped less than 1%. Credit default swap premiums for major AI firms have risen over the past year amid concerns about spending risks, and market volatility has increased since Treasury yields rose in August. Investors remain positive on the sector, with Anthropic's IPO prospectus expected soon and Alphabet, Amazon and Microsoft reporting earnings next week.