U.S. markets fell as investors de‑risked, and nvidia was among the AI names that slid, Emma Newberry reported for The Motley Fool.
The S&P 500 fell 1.62% to 7,266.99, the Nasdaq lost 1.98% to 25,169.50, and the Dow dropped 1.87% to 49,918.78, according to The Motley Fool.
Super Micro Computer plunged more than 27% after unveiling a $7 billion equity raise, while Micron and nvidia shares retreated, the Motley Fool piece said.
Apple inched higher, and retailers Walmart and Costco rose as investors rotated out of tech, while Cracker Barrel jumped 23% on strong earnings, the report added.
Market pressure followed sticky inflation and rising Middle East tensions after the Consumer Price Index climbed to 4.2% in May, the highest level since April 2023, The Motley Fool reported.
Treasury yields hovered near 4.55%, WTI crude rose 2.5% to above $90 per barrel, and the CBOE Volatility Index increased 12% to 22.22, the article said.
Torchbearers Against The Dominant GPU Stack
SiliconANGLE reported that TensorWave closed a $350 million financing round co‑led by Magnetar and AMD Ventures, valuing the company at $1.55 billion.
IndexBox, citing Yahoo Finance, said TensorWave raised about $100 million roughly a year earlier at a valuation near $400 million, the coverage noted.
Founded in 2023, TensorWave operates three data centers in Arizona, Florida and Pennsylvania, each said to contain 10,000 AMD Instinct processors and roughly 14 megawatts of computing capacity per site, SiliconANGLE reported.
SiliconANGLE quoted CEO Darrick Horton via the Wall Street Journal saying the company refuses Nvidia hardware to restore competition, adding "We wanted to figure out how we can solve problems for customers and restore competition to the market. I don't like buying things from monopolies. You don't have a lot of leverage."
Horton told SiliconANGLE the firm worked closely with AMD to improve the ROCm software platform, calling it "pretty much plug‑and‑play" for inference workloads, and he aims to scale to 2 gigawatts within a year.
SiliconANGLE observed that broad adoption will depend on software portability and customer willingness, and advised monitoring customer win rates, compatibility announcements, benchmarks and follow‑on funding.
