Nasdaq opens 0.5% lower as AI stocks slide and oil prices rise amid tensions

Impact · against what's priced in

The market pullback reflects growing anxiety over the financing costs of AI infrastructure, which challenges the sustainability of the high growth rates the market already assumes for semi leaders. While the current prices for NVDA, MU, and STX pay for near-term AI demand, the renewed focus on borrowing costs reinforces the market's reluctance to price in long-term structural earnings power.

MU−0.20

Challenges what's priced in

The price assumes