US stocks turned sharply lower Thursday, as investors revived a rotation out of megacap tech stocks as they looked ahead Friday's inflation reading to guide rate-cut bets, already dampened by a strong January jobs report. The Dow Jones Industrial Average (^DJI) fell roughly 1%, or over 500 points, after the blue-chip benchmark snapped a three-day win streak on Wednesday. The S&P 500 (^GSPC) dropped 1.2%, and the tech-heavy Nasdaq Composite (^IXIC) fell nearly 2%. The mixed picture comes as investors scr ...

Core Insights - Software stocks have significantly lagged behind artificial intelligence (AI) stocks for most of the past year, and this performance gap has continued even as the AI trade has cooled [1][2] - Concerns about AI potentially threatening the software industry have driven investor sentiment, leading to a disconnect between stock performance and underlying fundamentals [5][13] Group 1: Performance and Sentiment - Software stocks began to diverge from the broader market around July 2025, with fears surrounding AI contributing to a steep decline in their performance [3][9] - Initial fears included the belief that AI would eliminate the need for traditional software, which has since evolved into concerns about reduced demand for software licenses [3][4] - Despite the negative sentiment, the fundamentals of software companies remain strong, with many reporting better-than-expected earnings and guidance [7][8][10] Group 2: Revenue and Growth - In Q3 2025, 20 software companies reported earnings that beat expectations, indicating robust revenue and profitability across the sector [7][8] - AI-related revenue for software companies remains minimal, accounting for approximately 1.5% of total revenue, with projections suggesting it could rise to 2% in the near term [16][18] - Companies like Salesforce are experiencing rapid growth in AI-related revenue, but overall revenue from AI remains small compared to traditional software offerings [18][19] Group 3: Market Valuation and Investment Opportunities - Current valuations of software stocks are considered undervalued, with an estimated 25% upside potential across the sector [24][25] - Top investment picks include Microsoft and ServiceNow, both of which are well-positioned in the AI space and have strong free cash flow margins [25][29] - Microsoft leads in public cloud computing and AI, while ServiceNow is recognized for its growth potential and profitability compared to larger peers [29][31]

By Lewis Krauskopf NEW YORK, Feb 12 (Reuters) - Investors are discovering that the artificial intelligence landscape is not just fertile ground for stocks -- it is also a minefield. Enthusiasm about AI's profitability has fueled the U.S. bull market, with stock gains for technology companies and others tied to the build-out of data centers ‌and related infrastructure. Many investors have also pointed to 2026 as the year AI will start boosting bottom lines more broadly, as companies see productivity benef ...

当地时间2月12日，美股三大指数高开后回落，截至发稿，纳指转跌0.71%，道指涨幅回落至0.13%，标普500指数转跌。超3200股下跌。 消息面上，美国上周初请失业金人数为22.7万人，预估为22.4万人，前值为23.1万人。 随着市场参与度的持续提升，美股市场已经进入日均成交额1万亿美元的新常态。 科技七姊妹走势分化，英伟达、谷歌微涨0.1%上下，特斯拉、微软、Meta、亚马逊、苹果下跌。其中苹果一度接近2%，市值跌破4万美元大关。美股存储 概念股大涨后回落，截至发稿闪迪涨超5%，美光科技涨超2%。 | 1 | | 英伟达 | 190.320 | +0.14% | | --- | --- | --- | --- | --- | | | | NVDA | | | | 2 | S | 闪迪 | 633.590 | +5.71% | | | | SNDK | | | | 3 | | 美光 | 421.430 | +2.70% | | | | MU | | | | 4 | | 特斯拉 | 427.380 | -0.21% | | | | TSLA | | | | 5 | | 台积电 | 375.810 | +0. ...

Microsoft Corporation (NASDAQ:MSFT) is among the best machine learning stocks to buy according to analysts. On February 5, Bloomberg reported that Stifel downgraded Microsoft’s rating from Buy to Hold and cut the price target by nearly 27%, to $392 from $540. With this, Stifel has joined the 5%-6% of analysts who hold a cautious view, out of 64 covering the stock (per CNN.com data). In his note, Stifel analyst Brad Reback argued that consensus expectations for 2027 “are too optimistic,” amid concerns ove ...

Microsoft has permanently closed the Visitor Center in Building 92, a hands-on tech showcase and historical exhibit that was a destination for guests and employees for many years. ...

Core Viewpoint - Big Tech's data center expansion is encountering increasing legislative resistance aimed at mitigating the impact of their power consumption on consumer electric bills [1][2]. Group 1: Legislative Actions - Bipartisan legislation has been introduced by Senators Josh Hawley and Richard Blumenthal to prevent data center power usage from affecting consumers' electric bills [1]. - New York has proposed a bill to pause data center construction, potentially excluding the state from future data center developments [2]. - Lawmakers across the country are attempting to regulate an industry that has rapidly expanded and is straining the power grid [2]. Group 2: Industry Impact and Demand - The four major tech companies—Microsoft, Alphabet, Amazon, and Meta—are projected to invest over $650 billion in artificial intelligence this year, significantly increasing data center construction and power demand [4]. - Power demand from U.S. data centers is estimated to have doubled from 2018 to 2024 and could triple by 2028 [5]. - Capacity prices for electricity in the PJM Interconnection region have surged from $28.92 per megawatt-day for the 2024-2025 period to $329.17 for the 2026-2027 period [5]. Group 3: Environmental Concerns - Major data centers consume large amounts of water for cooling, with forecasts indicating they will use over 150 billion gallons between 2025 and 2023, equivalent to the annual water usage of 4.6 million U.S. households [6]. - AI developers have committed to reducing the environmental impact on local communities [6]. Group 4: Corporate Responses - Microsoft has pledged to cover its data center energy costs fully and to replenish more water than its U.S. data centers consume [7]. - Amazon reported a 40% reduction in water use per unit of computing since 2021 and claims that its infrastructure will not increase electricity rates [7].

Although the stock market has sold off a bit, it's really not as bad as some people think. A few negative days in a row may be worrisome, but the S&P 500 is only down a couple of percentage points from its all-time high, so to call this a full-blown market sell-off isn't accurate. Now, if you want to rebrand it to a tech stock sell-off, that's more like it. Many tech stocks are down significantly from their recent highs, but most don't have a great reason to be there. I think these are the best stocks to ...

尽管SpaceX、OpenAI等明星公司的IPO前景备受瞩目，但当前美国科技资本市场的真正重心已转向债务 融资。为支撑AI基础设施的快速扩张，全球科技及AI相关债券发行规模正急剧膨胀，预计今年将从 2025年的7100亿美元逼近1万亿美元大关。 Alphabet、亚马逊、Meta、微软四大科技巨头今年合计资本支出及融资租赁规模预计将达7000亿美元， 以应对算力资源的史诗级需求。为填补资金缺口，头部企业密集进入债券市场：Alphabet本周完成超 300亿美元债券发行，Oracle亦于2月初宣布年内融资450亿至500亿美元，并迅速落地250亿美元债券销 售。 摩根士丹利测算，AI基础设施领域存在约1.5万亿美元融资缺口，其中大部分将由债务市场填补。分析 师警告，伴随科技企业发债规模持续攀升，投资级公司债指数中科技行业的权重或将从当前的9%升至 十几个百分点，加剧指数层面的集中度风险；与此同时，巨量供给亦可能推高其他行业发行人的融资成 本，形成跨市场溢出效应。 超大规模融资推动债市扩容 与债务融资的井喷态势形成鲜明反差，美国科技IPO市场仍陷沉寂。今年以来尚无知名科技企业提交上 市申请，市场仅存的预期锚点集中 ...

Key Takeaways AMZN, GOOGL, MSFT and META ramp AI capex, pressuring margins and free cash flow.AAPL stays disciplined, while TSLA raises AI spending amid slowing EV demand.NVDA stands out as the main beneficiary of the Mag 7 AI buildout.For the past few years, artificial intelligence (AI) has been one of the hottest themes in the stock market. Investors rewarded companies that talked boldly about AI ambition, data leadership, cloud scale and long-term disruption. But this earnings season, more than the headl ...