AI Stock Selloff: NVDA, OKTA, SNOW, DDOG Hammered
AI funding concerns triggered a broad selloff in tech and chip stocks this week, with NVDA down 6.6% on the week and software names like OKTA, SNOW, and DDOG down 5-10% on Friday alone.
What we know
An account on X detailed the damage: OKTA -10.2%, DDOG -7.2%, SNOW -8.4%, ZS -5.9% on AI funding worries. NVDA wrapped up a 6.6% weekly drop, closing at $214.13. Despite this, another account on X reported a record $1.4 trillion in US equity ETF inflows over 12 months, with tech funds alone drawing $65B. Another account on X framed the bearish headlines — hot CPI, rate hike fears, DXY highs — as noise before a 'face-ripping' move up.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.