#appleovertooknvidia — Public Fediverse posts

RE: https://flipboard.com/@bbcnews/business-h8ss70mez/-/a-hy_-PONtRd6AJRf3e0bWbw%3Aa%3A3199692-%2F0

What’s wrong with this picture? Why so much volatility? Has the AI burn that Apple’s supposed to watch (see Ed Zitron interview) now started?
“Trading on South Korea's benchmark Kospi index was paused temporarily on Tuesday morning after sliding by 8%. It fell further after the 20-minute halt was lifted, closing 10.8% lower.
“The slump was led by technology firms, with Samsung Electronics and SK Hynix both falling by more than 13%.
“It comes after AI chip giant Nvidia* fell by 5% in New York on Monday, meaning it lost its position as the world's most valuable listed company to Apple.
“The tech-heavy Kospi has been halted multiple times so far this year under a stock market mechanism known as a circuit breaker, which is designed to calm panic selling.
“The index had more than doubled from the start of the year to mid-June but has since lost around a third of its value.”

* Wall Street Journal had reported Nvidia in talks to provide ~$250bn for OpenAI as part of a massive data-centre project.
Also, shares in China's biggest memory chip maker, ChangXin Memory Technologies (CXMT), soared by nearly 470% on their Monday debut in Shanghai.

#stockMarkets #SouthKorea #Kospi #BBC #AI #tradingVolatility #AppleOvertookNvidia

RE: https://flipboard.com/@bbcnews/business-h8ss70mez/-/a-hy_-PONtRd6AJRf3e0bWbw%3Aa%3A3199692-%2F0

What’s wrong with this picture? Why so much volatility? Has the AI burn that Apple’s supposed to watch (see Ed Zitron interview) now started?
“Trading on South Korea's benchmark Kospi index was paused temporarily on Tuesday morning after sliding by 8%. It fell further after the 20-minute halt was lifted, closing 10.8% lower.
“The slump was led by technology firms, with Samsung Electronics and SK Hynix both falling by more than 13%.
“It comes after AI chip giant Nvidia* fell by 5% in New York on Monday, meaning it lost its position as the world's most valuable listed company to Apple.
“The tech-heavy Kospi has been halted multiple times so far this year under a stock market mechanism known as a circuit breaker, which is designed to calm panic selling.
“The index had more than doubled from the start of the year to mid-June but has since lost around a third of its value.”

* Wall Street Journal had reported Nvidia in talks to provide ~$250bn for OpenAI as part of a massive data-centre project.
Also, shares in China's biggest memory chip maker, ChangXin Memory Technologies (CXMT), soared by nearly 470% on their Monday debut in Shanghai.

#stockMarkets #SouthKorea #Kospi #BBC #AI #tradingVolatility #AppleOvertookNvidia