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Core Viewpoint - The recent negative news from Broadcom and Oracle has reignited concerns about the AI bubble, leading to a significant sell-off in the tech sector, compounded by some Federal Reserve officials opposing the easing of monetary policy [1][8]. Market Performance - All three major U.S. stock indices closed lower, with the Nasdaq down 1.69%, the S&P 500 down 1.07%, and the Dow Jones down 0.51% [2]. - The tech sector experienced widespread declines, with Broadcom falling over 11%, Micron Technology down more than 6%, and Nvidia down over 3% [5]. Company-Specific Developments - Broadcom reported Q4 FY2025 revenue of $18.02 billion, a 28% year-over-year increase, and adjusted EBITDA of $12.12 billion, up 34%, both exceeding market expectations. However, the company has a backlog of $73 billion in AI product orders, which disappointed the market [12][15]. - Broadcom's CEO noted that the strong performance was driven by growth in AI semiconductors and infrastructure software, with semiconductor revenue reaching $11.1 billion, a 35% increase, and AI semiconductor revenue at $6.5 billion, a 74% increase [15]. - Oracle has delayed the completion of data centers for OpenAI from 2027 to 2028 due to labor and material shortages, despite a $300 billion agreement to supply computing power for model training and inference [20][16]. Federal Reserve Commentary - Several Federal Reserve officials expressed opposition to interest rate cuts, emphasizing the need to maintain a slightly tight monetary policy to combat persistent inflation [21][24]. - Cleveland Fed President Loretta Mester indicated a preference for a more restrictive stance to continue applying pressure on inflation, while other officials also voted against recent rate cuts, citing ongoing economic momentum and high inflation [22][25].