Software & IT Services

TradingKey - Expectations of Federal Reserve rate hikes, rising financing costs for AI projects, and intensifying competition in memory chips simultaneously hit global tech stocks this week. As of Thursday, the world's 20 largest AI and semiconductor companies by market capitalization had collectively wiped out over $1 trillion in market value, with the chip sector becoming the hardest-hit area in this round of adjustment.

Meta (META) and Apple (AAPL) have entered into a rare partnership in the AI sector. According to information released by Meta and related reports, the two companies announced on Thursday that developers can locally run Meta's newly launched open-weight model, Muse Spark Open, on Mac Studio powered by the M5 Ultra chip. Months in the making, the collaboration has enabled the two companies to find new common ground after years of strained relations.

On October 15 Eastern Time, CoreWeave (CRWV) fell by as much as 9.5% in early Thursday trading before recovering its morning drop of over 9%. A sell-off over the past four consecutive trading days has erased more than $10 billion from CRWV's market capitalization. As of Thursday, the stock's cumulative loss for the week exceeded 22%. As of press time, CRWV shares reversed course to rise 1.6% to $66.83.

TradingKey - Netflix cuts about 1,000 jobs before Q3 earnings as World Cup rights broaden live sports. Explore margin guidance and critical NFLX support at $66.98.

TradingKey - CoreWeave’s $104 billion backlog faces surging borrowing costs. Explore AI infrastructure funding, Q3 guidance and key CRWV support at $60.57.

On October 14, Eastern Time, shares of CoreWeave (CRWV) plummeted over 15%, hitting their lowest level since late July. D.A. Davidson analyst Gil Luria stated on the Prof G Markets podcast that once the AI investment boom cools down, high-cost borrowing could render the AI cloud provider unable to meet its debt obligations, potentially leaving shareholders with a total loss.