Wall Street slides as AI stocks and oil prices weigh on markets

annahar.com (Arabic) —

Wall Street closed sharply lower on Friday, with AI technology stocks like CoreWeave and Broadcom under renewed pressure, while a jump in oil prices added to investor caution ahead of the weekend. The Nasdaq index extended its weekly losses amid concerns that debt-laden AI infrastructure companies may not generate profits in time to repay their debts, especially with borrowing costs expected to rise. Investors also grappled with oil prices surging over 3% due to supply worries from the Middle East. Adding to AI funding concerns, Reuters reported that some current and potential investors in Anthropic are considering a lower valuation for the company in its anticipated initial public offering.


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