Shares of technology companies fell slightly as doubts about the sustainability of an artificial-intelligence boom lingered.
Nvidia shares fell despite reports that it struck a deal with some of the largest North American investment firms to help raise $500 billion to fund the AI infrastructure build-out.
Monday.com shares fell after the maker of work-place software forecast revenue growth short of the Wall Street target.
"Corporate earnings have been nothing short of fabulous," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. In aggregate, earnings for the S&P 500 have risen by roughly 29% from a year earlier, excluding some major one-off items, said Joyce. The tech sector is among the fastest growing areas because of the artificial-intelligence boom.
In a wide-ranging essay, the Meta Platforms Chief Executive Mark Zuckerberg outlined a new course of action he presented as a way to spread the wealth and opportunity from AI to users around the world.
