FX.co ★ US Stocks Weighed by AI Infrastructure

US equity benchmarks diverged further on Friday as investors reassessed risks in the AI trade ahead of likely interest rate hikes by the Federal Reserve. The S&P 500 and the Dow hovered just above the flatline, while the Nasdaq 100 slipped 0.5%.

CoreWeave fell nearly 7%, extending its losses for the week to 18% and highlighting renewed credit concerns surrounding AI infrastructure providers. The sector has recently come under pressure following relatively subdued revenue figures from Anthropic and mounting expectations for higher borrowing costs, which pose particular challenges for heavily leveraged companies. Fresh data this week showed an uptick in consumer inflation and a sharp rise in both headline and core producer prices.

Chipmakers Micron, AMD, and Marvell declined by as much as 3%. In contrast, Tesla gained 1%, while SpaceX slipped 3% after Tesla unveiled its Roadster model equipped with SpaceX thrusters, fueling renewed speculation about a potential merger between CEO Elon Musk’s companies.