AI Stocks & Markets

Today's Stories

1. 1

   Marvell drops 8% on AI spending slowdown fears

   Marvell Technology's stock fell 8%, alongside declines in Broadcom, AMD, and Intel, as concerns about a slowdown in artificial intelligence capital expenditure weighed on semiconductor stocks. AI infrastructure investment has been a primary driver of demand for high-end chips over the past two years. A pullback in AI spending could signal weaker revenue growth for chipmakers that have counted on this segment as a major source of growth.

   The body does not specify a forward date, catalyst, or further details about when or why this slowdown might occur.

2. 2

   Broadcom's AI Chip Advantage Deepens

   Broadcom is strengthening its position in AI infrastructure, with its custom silicon and networking solutions becoming increasingly integral to major cloud providers' AI deployments. As AI adoption accelerates across industries, Broadcom's specialized chips for data centers—particularly those that connect AI servers—are becoming harder for competitors to displace, creating a durable competitive advantage that supports higher margins and revenue growth.

   Broadcom's ability to maintain its technical lead as demand for AI infrastructure scales; any new entrants or competing solutions that could erode its moat in custom AI silicon and networking.

3. 3

   Nasdaq slides on AI chip weakness; regional banks, transports gain

   The Nasdaq declined, led by losses in AI-related stocks including Sandisk and Micron. Meanwhile, regional bank and transportation stocks rose. The pullback in chip stocks shows investor caution on AI valuations, while strength in other sectors signals some rotation out of the AI trade into economically-sensitive areas.

   SpaceX has a major Starship launch scheduled, which could draw investor attention away from equity markets.

4. 4

   Palantir CTO warns Chinese AI firms using distillation attacks on U.S. tech

   Palantir Technologies' Chief Technology Officer Shyam Sankar said Chinese developers appear to be building advanced AI models through distillation attacks—training lower-cost models using outputs from Silicon Valley laboratories' AI systems. Anthropic accused Alibaba of conducting a large-scale distillation campaign through thousands of fraudulent accounts, and concerns extend to Chinese AI startups DeepSeek and MiniMax. The practice threatens U.S. AI companies' competitive advantage and intellectual-property returns on their heavy investment in frontier models. If Chinese competitors can reproduce comparable AI capabilities at significantly lower cost through unauthorized use, it could undermine the economic lead American AI laboratories expect from their R&D spending. Sankar argued major American AI labs have a direct financial incentive to protect their intellectual property more aggressively.

   Sankar also flagged a separate but potentially larger threat: New York Governor Kathy Hochul ordered a moratorium on new large data centers on Tuesday, which Sankar warned could carry major long-term consequences for U.S. AI development if the retreat spreads. The dispute highlights that intellectual-property protection may become increasingly important as U.S. and overseas competitors compete over AI capabilities.

5. 5

   Portfolio manager eyes TSMC, ASML over Nvidia in AI trade

   A portfolio manager noted that while Nvidia's long-term story remains intact, the chipmaker's stock has been outperformed by other areas of the AI trade this year. He highlighted Taiwan Semiconductor and ASML as sound investments—calling ASML "a really strong business" that makes the lithography machines used to manufacture chips. The comment suggests that as Nvidia's valuation has risen, investors looking for exposure to AI infrastructure may find better value in the suppliers that enable chip production. For business readers, this reflects a shift in where AI-related investment opportunity may lie beyond the most obvious semiconductor plays.

   The manager expressed skepticism about cloud storage companies such as Western Digital, noting that some have moved "from being dirt cheap to being super expensive overnight"—a valuation shift he views as inconsistent with the long-term growth story he seeks.

6. 6

   Three AI Stocks Stumble Despite Strong Fundamentals, Seen Poised for Rebounds

   Synopsys (down 12% year to date), Constellation Energy (down roughly 30% year to date), and Microsoft (down more than 15% year to date) have all underperformed despite posting solid operational gains. Synopsys reported 42% year-over-year revenue growth in fiscal 2026 Q2 and raised full-year guidance; Constellation Energy's revenue surged 61% year over year in Q1; Microsoft's AI business more than doubled its annual revenue run rate year over year in fiscal 2026 Q3, with overall revenue up 18% and net income up 20%. All three companies continue to gain market share and strengthen fundamentals—Synopsys through its chip design dominance and a $2 billion（約3200億円） Nvidia investment, Constellation through long-term energy deals with tech companies, and Microsoft through a doubling AI business and cloud revenue exceeding half of Q3 sales. Their declines appear disconnected from operational reality, suggesting they may represent buying opportunities for investors with a long-term horizon.

   Synopsys faces short-term margin pressure from its $35 billion（約5.6兆円） Ansys acquisition, but amortization costs are expected to wind down. Constellation is expected to guide for 20% EPS growth from 2026 to 2029. Microsoft executive vice president Amy Hood cited 'growing demand for Microsoft Cloud' as a driver, with cloud revenue growing faster than the overall business.