AIThe Next Webabout 1 hour ago
AI Stocks Plunge as Data Center Backlash Hits
7 min read
US stocks suffered their sharpest one-day decline in months on Thursday, November 5, as investors pulled back from chipmakers and cloud providers. The Nasdaq Composite dropped 5.5% to 24,315, while Nvidia fell 9.3%. Microsoft lowered its full-year spending forecast to $170 billion from $175 billion, and Meta raised its lower spending range to $135 billion.
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