Shares of technology companies ticked down as a rush into artificial-intelligence bets slowed.
Nvidia shares fell slightly, but remain more than 80% higher for the year to date. The chip maker said a platform it developed for building generative AI applications, Nvidia NeMo, was consistent with copyright law.
Nvidia's stock behavior seems extreme, "except when you look at their results, then it's like: 'oh my goodness, you grew by what?'" said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
"Sometimes we talk about individual stocks or the stock market, as if it's its own entity. But when you start thinking about '[if I] were going to buy this machine-tool shop or flower shop, and it's growing by x percent...what are we willing to pay for that level of growth rate?'" said Joyce.
Apple is preparing to open its eighth store in Shanghai this month, expanding its retail presence in China amid slipping iPhone sales in the world's largest smartphone market.
Business software maker Oracle rose ahead of its quarterly earnings report, and was set to test its all-time highs.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-11-24 1703ET
