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CNBC analysts debate whether the AI trade is running out of steam after Democratic wins in the U.S. elections

FinanceInternationalCNBCAI summary
Image: CNBC

After a sharp selloff in tech stocks, analysts told CNBC that Tuesday's Democratic win and the party's threat to slow data center construction forces a rethink of the AI business. Peter Boockvar of One Point BFG Wealth Partners questioned the $1.2 trillion in capex forecast for next year. The Nasdaq Composite fell 5% on Thursday and entered correction territory, more than 11% below last month's record high; the iShares Semiconductor ETF lost 11%.

In 40 seconds

  • The Nasdaq Composite fell 5% on Thursday and entered correction territory, more than 11% below last month's record.
  • The iShares Semiconductor ETF dropped 11%, its biggest decline since March 2020, and the AIQ ETF fell 6% on the day and 15% over a month.
  • Peter Boockvar questioned the $1.2 trillion in capex forecast for next year.
Read the full story at CNBC

IASummary generated by artificial intelligence from a story by CNBC. It may contain errors: the original source prevails.

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