Commemorative
Traded ValueUS stocks fell across the board, with AMD recording its biggest drop in years.
On Wednesday, the three major US stock indices all declined, with the Nasdaq briefly falling more than 2%. Chipmaker AMD's disappointing earnings report led to its stock price plummeting over 16% at one point, marking its largest drop since 2018.
Investors are concerned that artificial intelligence may undermine the profit models of software and data companies.
In response, Nvidia CEO Jensen Huang stated that the idea that AI will replace software is "the most illogical thing in the world."
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