AI Stock Frenzy Peaks Then Falters: Nvidia Wobbles, Alibaba Soars as Global AI Boom Faces Reality Check
U.S. stock indexes fell from record highs on Aug. 29 as major AI-linked stocks like Nvidia and Dell tumbled. Nvidia dropped about 4% despite strong sales, while Dell plunged up to 10% after warning of profit pressures. Marvell Technology sank nearly 19% on weak guidance. Alibaba jumped 13% after reporting a surge in AI-driven cloud revenue.