Wall Street ended lower on Friday, with a steep drop in AI-related chip stocks and sharp gains in Moderna and other healthcare stocks.
The PHLX chip index tumbled, underscoring recent volatility among AI-related chipmakers that have fueled much of Wall Street's gains in recent years. While some investors remain optimistic about the potential for AI to fuel higher profits, others worry that massive spending to build AI data centers may take too long to pay off.
