Tech Explained: Here’s a simplified explanation of the latest technology update around Tech Explained: Tech Up as AI, Crypto Fears Subside — Tech Roundup in Simple Termsand what it means for users..
Shares of technology companies rose as fears about the sustainability and implications of the artificial-intelligence boom diminished somewhat.
Shares of Monday.com slid as the project-management software company’s growth outlook failed to quell concerns about the potential disruption of its business by AI competition.
“People are really starting to question whether the high levels of expenditure, whether the capex has been fruitful or not,” said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Joyce said advanced chip maker Nvidia is playing the role that Intel played for investors during the Dot-com boom: the ubiquitous supplier to the myriad companies competing to dominate the field. For that reason, Joyce said, fears stirred by Microsoft and others in the latest quarter may prove overblown. “My guess is when Nvidia reports” at the end of the earnings season, “it’s going to show they continue to thrive.”
Shares of Kyndryl Holdings plunged after the company’s chief financial officer left amid a review of accounting practices and a Securities and Exchange Commission probe.
STMicroelectronics shares rose after the European chip maker struck a deal with Amazon.com’s cloud-computing unit, a major breakthrough in efforts to supply AI infrastructure builders.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-09-26 1903ET