The AI trade is going through a bloodbath.
The last trading session was simply brutal. Even large-cap companies like Lumentum, GE Vernova, Coherent, and Lam Research suffered double-digit declines in a single session.
Neoclouds and data center operators didn’t fare much better. The selloff continued, to the point that some of these stocks have erased all their AI-era gains when you look at their performance over the past few years.
Only Nebius stands out, largely because it resumed trading under its new ticker in a relatively depressed market.
The others, which went through the post-COVID-19 boom, have seen their stock prices return to pre-AI levels.
Investors are now asking themselves:
Is this an opportunity?