Key facts
- Broadcom reported quarterly sales below expectations.
- Broadcom shares fell over 12%, erasing $300 billion in market value.
- Nvidia unveiled a new AI chip for personal computers.
- Anthropic filed for an IPO.
- Alphabet announced an $80 billion equity offering, with Berkshire Hathaway investing $10 billion.
- Microsoft announced a new AI-designed quantum computing chip.
Markets experienced a setback as AI enthusiasm persisted despite a slight earnings miss from Broadcom, causing its shares to slump over 12% and wiping out approximately $300 billion in market value. The S&P 500 ultimately recovered, but Asian shares dropped and Wall Street futures traded lower. Despite the hiccup, tech enthusiasm remains high with Nvidia unveiling a new AI chip for PCs, Anthropic filing for an IPO, Alphabet launching an $80 billion equity offering with Berkshire Hathaway investing $10 billion, Marvell Technology surging on Nvidia CEO's comments, and Microsoft revealing an AI-designed quantum computing chip.