Earlier this year, Malaysia’s Zetrix AI Bhd. was preparing to list its artificial intelligence unit on Nasdaq and had even built an AI avatar of Prime Minister Anwar Ibrahim. Now the onetime digital infrastructure star has lost more than 90% of its market value, is mired in debt and risks defaulting on its Islamic bonds.
Technology-stock-driven rally came to a sudden halt as traders confronted a leadership crisis at Nvidia Corp. that risks reverberating across the global artificial intelligence supply chain. Nvidia dropped 7% in premarket trading, with the firm’s board discussing Chief Executive Officer Jensen Huang’s future after reports of multiple extramarital affairs, including one with a woman suspected of spying for China. Nasdaq 100 contracts fell 0.9%, threatening to trim the index’s best weekly gain...
Nasdaq erases last week’s losses as better-than-expected CoreWeave results and prospect of higher Anthropic IPO valuation boost sentiment
US technology stocks rallied Wednesday, putting the technology-heavy Nasdaq 100 index on path to erase losses since the US midterm election, as excitement over the artificial intelligence trade returned.
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