Asian stocks fell on Tuesday, led by sharp declines in heavyweight chipmakers, as investors took profits from a powerful artificial intelligence-driven rally. The KOSPI index fell 4.6%, while Japanese and Chinese markets also declined. US stock futures plunged as a sharp sell-off in technology shares spread from Asia to the US, raising concerns about the sustainability of the AI-driven rally.
Intel was endorsed as a top AI chip stock by Jim Cramer, citing the company's potential in AI-focused initiatives and its legacy CPU business. Meanwhile, Attention, a sales technology company, raised $30 million in a Series B funding round led by RTP Global to expand its AI-powered revenue operations platform.
The tech sell-off has gone global, with stocks in Asia, Europe, and the US experiencing significant declines. AI companies like SpaceX are getting hit hard. Oracle's AI-driven layoffs and market plunge highlight tech woes, with the company cutting 21,000 jobs and replacing workers with AI.
Despite economic uncertainty, CFOs are accelerating AI adoption, building clear governance over AI investments, and prioritizing resilience. Researchers found that a single fake web page can trick AI shopping recommendations, highlighting the need for more robust AI systems.
Key Takeaways
['Asian stocks fell sharply as investors took profits from the AI-driven rally.', 'US stock futures plunged as the tech sell-off spread globally.', 'Intel endorsed as top AI chip stock by Jim Cramer.', 'Attention raised $30 million for AI-powered revenue operations platform.', 'Tech sell-off went global, hitting AI companies hard.', "Oracle's AI-driven layoffs and market plunge highlight tech woes.", 'CFOs accelerating AI adoption despite economic uncertainty.', 'Researchers found fake web pages can trick AI shopping recommendations.', 'GLM-5.2 API offers hands-on guide for reasoning effort and function calling.', 'OpenAI-compatible API, GLM-5.2, enables long-context retrieval.']Asian stocks slide as AI rally cools
Asian stocks fell on Tuesday as investors took profits from a powerful artificial intelligence-driven rally. South Korean shares led regional losses amid sharp declines in heavyweight chipmakers. The KOSPI index fell 4.6% after recently scaling record highs. Japanese and Chinese markets also declined.
Nasdaq down nearly 4% on AI-chip selloff
A selloff in AI and semiconductor stocks led to a 3.94% decline in the Nasdaq Composite. South Korea's KOSPI closed down 9.99%, triggering a circuit-breaker. Chipmakers SK Hynix and Samsung Electronics fell sharply.
Wall Street tumbles after KOSPI's 10% fall
US stock futures plunged as a sharp sell-off in technology shares spread from Asia to the US. The Nasdaq 100 futures fell 2.5% and S&P 500 futures declined 1.3%. The selloff raised concerns about the sustainability of the AI-driven rally.
South Korea's AI trade unravels
South Korea's benchmark Kospi index plunged over 8% on June 23, triggering a market-wide circuit breaker. The sell-off was led by semiconductor heavyweights Samsung Electronics and SK Hynix. Analysts point to profit-taking, stretched valuations, and growing nervousness over the AI-driven rally.
Intel endorsed as top AI chip stock
Jim Cramer, host of CNBC's Mad Money, named Intel his top artificial intelligence (AI) chip stock, citing the company's potential in AI-focused initiatives and its legacy CPU business.
Attention raises $30M for AI platform
Attention, a sales technology company, raised $30 million in a Series B funding round led by RTP Global. The company aims to expand its AI-powered revenue operations platform.
Attention's $30M funding validates AI shift
Attention's $30 million Series B funding round validates the company's approach to AI-powered revenue operations. The platform aims to drive outcomes rather than just listen.
Tech sell-off spreads globally
The tech sell-off has gone global, with stocks in Asia, Europe, and the US experiencing significant declines. AI companies like SpaceX are getting hit hard.
Oracle AI layoffs spark market plunge
Oracle's AI-driven layoffs and market plunge highlight tech woes. The company cut 21,000 jobs, replacing workers with AI, as tech stocks lead a market-wide plunge.
CFOs accelerate AI adoption
CFOs are accelerating AI adoption despite economic uncertainty. They are building clear governance over AI investments and prioritizing resilience.
GLM-5.2 API hands-on guide
A hands-on guide to using GLM-5.2, an OpenAI-compatible API, for reasoning effort, function calling, and long-context retrieval.
Fake web pages trick AI shopping recs
Researchers found that a single fake web page can trick AI shopping recommendations. LLMs can be easily swayed by fake information.
Sources
- Asia stocks slide as AI rally cools; Korea tumbles on chip selloff
- AI-Chip Rout Pulls Nasdaq Down Nearly 4%
- Wall Street crash: Why S&P 500, Nasdaq futures tumbled today after KOSPI’s 10% fall; AI sell-off deepens
- South Korea's hottest AI trade is unraveling: What sparked the 6% Kospi crash?
- This Is the Top Artificial Intelligence (AI) Chip Stock to Buy Right Now, According to Jim Cramer (Hint: It's Not Nvidia)
- Attention Raises $30M Series B to Expand AI-Powered Revenue Operations Platform
- Attention's $30M Round Signals a New Era: AI That Acts, Not Just Listens
- Oracle AI Layoffs, Market Plunge Highlight Tech Woes
- How CFOs Can Move Beyond AI Tasks To AI Strategy
- GLM-5.2 OpenAI-Compatible API: A Hands-On Guide to Reasoning Effort, Function Calling, and Long-Context Retrieval
- One fake web page can be enough to trick AI shopping recommendations
- The Tech Sell-off Goes Global
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