AI capex jitters dragged tech lower, but SAP's cloud growth shows us where the smart money still goes
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Evening brief: AI capex jitters dragged tech lower, but SAP's cloud growth shows us where the smart money still goes
Tech Fears Drag Nasdaq Lower: The Nasdaq closed lower Friday as AI capex concerns and elevated valuations sparked a broader rotation out of high-multiple growth names. NBIS Dumps 15% in Tech Selloff: The AI neo-cloud specialist plunged 15.02% alongside peers as a spike in volatility prompted investors to dump speculative, high-beta infrastructure stocks. Bloom Energy Hit by Delays: Shares sank 14.91% after reports of pipeline permit delays for a major Oracle data center compounded a broader selloff in fuel-cell equities. SAP Surges 9.3% on Cloud Growth: The enterprise software giant rallied 9.30% following upbeat Q2 results, citing a record €22.9B cloud backlog fueled by strong AI-driven demand. Mega-Cap Tech Earnings On Deck: Market sentiment hinges on next week's crucial earnings reports from Microsoft, Meta, and Amazon to validate the massive AI infrastructure trade.
Tech Fears Drag Nasdaq Lower
The Nasdaq closed lower Friday as AI capex concerns and elevated valuations sparked a broader rotation out of high-multiple growth names.
NBIS Dumps 15% in Tech Selloff
The AI neo-cloud specialist plunged 15.02% alongside peers as a spike in volatility prompted investors to dump speculative, high-beta infrastructure stocks.
Bloom Energy Hit by Delays
Shares sank 14.91% after reports of pipeline permit delays for a major Oracle data center compounded a broader selloff in fuel-cell equities.
SAP Surges 9.3% on Cloud Growth
The enterprise software giant rallied 9.30% following upbeat Q2 results, citing a record €22.9B cloud backlog fueled by strong AI-driven demand.
Mega-Cap Tech Earnings On Deck
Market sentiment hinges on next week's crucial earnings reports from Microsoft, Meta, and Amazon to validate the massive AI infrastructure trade.
Posture: Defensive posture. With Fear at 39 and tech multiples contracting, prioritize building cash and rotating into resilient, value-oriented equities.
Tickers in focus: QQQ, NBIS, SAP
Upcoming earnings
The day's moves on the ledger
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