This article first appeared on GuruFocus.
AI infrastructure and semiconductor stocks sold off Wednesday after reports that Meta Platforms (NASDAQ:META) is exploring a cloud business that would sell excess AI computing capacity and models to outside customers.
The report lifted Meta shares about 8%, but it pressured companies already competing in the AI infrastructure market. AI cloud providers were among the hardest hit, with Nebius (NASDAQ:NBIS) falling nearly 12%, CoreWeave (NASDAQ:CRWV) dropping about 10%, and Super Micro Computer (NASDAQ:SMCI) declining roughly 4%.
Chip stocks also came under pressure. Nvidia (NVDA) fell around 2%, AMD (NASDAQ:AMD) dropped nearly 3%, while Intel (NASDAQ:INTC), Arm (NASDAQ:ARM), Taiwan Semiconductor (NYSE:TSM) and GlobalFoundries (NASDAQ:GFS) each lost about 4%. Micron (MU) slid 7% despite announcing a new long-term supply agreement with General Motors.
Networking and optical names were broadly weaker as well. Corning (NYSE:GLW) plunged about 10%, while Ciena (NYSE:CIEN), Coherent (NYSE:COHR) and Celestica (NYSE:CLS) each fell around 3%.
https://finance.yahoo.com/technology/ai/articles/meta-cloud-report-hits-ai-200237116.html
