US chip stocks recovered some of their losses on Friday, 6 November, a day after a sell-off in companies tied to artificial intelligence sent the Nasdaq Composite down 5.5%.
Nvidia and Micron Technology were among the stocks that rebounded. During Friday trading, the Nasdaq was up about 1%, while the S&P 500 gained 0.5% and the Dow Jones Industrial Average was down about 0.2%, according to Sky News.
Thursday’s losses extended beyond the technology sector. The S&P 500 closed 4.4% lower and the Dow fell 3.4%. The Nasdaq ended the session more than 10% below its recent record high.
Democrats won both chambers of Congress in Tuesday’s midterms. Reuters reported that the result added to investors’ concerns that tougher oversight could slow the construction of AI data centres. Investors were also weighing whether the large sums already committed to AI infrastructure would deliver the returns they expected.
Featured image — AI-generated illustration.
