Artificial intelligence (AI) stocks just took a punch, and the damage spread fast. CoreWeave (NASDAQ: CRWV) was hammered on fears that demand may not show up, while Dell Technologies (NYSE: DELL), Hewlett Packard Enterprise (NYSE: HPE), and Micron Technology (NASDAQ: MU) slid right along with it.
Software is telling a different story. The group that spent much of the first half of the year sinking on fears that AI could make it obsolete has turned higher, and several names are holding firm while AI hardware wobbles.