---
title: "U.S. stocks have returned to high levels, but technology stocks have not"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/268527565.md"
description: "The S&P 500 index is approaching historical highs, but the previously leading technology stocks are not. In particular, the most watched AI trades, the \"AI liability pressure gauge\" Oracle (Figure 1) has seen its CDS continue to rise, accompanied by a decline in stock price; the gap between NVIDIA and the Nasdaq has further widened (Figure 2)"
datetime: "2025-12-04T03:30:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/268527565.md)
  - [en](https://longbridge.com/en/news/268527565.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/268527565.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/268527565.md) | [繁體中文](https://longbridge.com/zh-HK/news/268527565.md)


# U.S. stocks have returned to high levels, but technology stocks have not

The S&P 500 index is approaching historical highs, but the previously core leading technology stocks are not.

In particular, the most watched AI trades, the "AI liability pressure barometer" Oracle (Figure 1) has seen its CDS continue to rise, accompanied by a decline in stock price; the gap between NVIDIA and the Nasdaq has further widened (Figure 2).

### 相关股票

- [NVIDIA (NVDA.US)](https://longbridge.com/zh-CN/quote/NVDA.US.md)
- [Oracle (ORCL.US)](https://longbridge.com/zh-CN/quote/ORCL.US.md)

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