Why AI and Specialty Tech Stocks Tumbled Today
In recent times, there have been trading sessions where artificial intelligence (AI) and specialty tech stocks roared higher in price. Tuesday, however, was not one of them.
On investor hedging with a leading title in tech hardware, concern spread throughout the tech sector and affected the stocks of many niche players. AI solutions developer C3.ai (NYSE: AI) took a nearly 6% hit to its price that day, while Pure Storage (NYSE: PSTG) wasn't far behind with a 5% drop. Two other prominent specialty tech companies, data analytics giant Snowflake (NYSE: SNOW) and next-generation database expert (NASDAQ: MDB), both fell more than 4% lower.
That monster company the market was worried about Tuesday was graphics processing unit (GPU) behemoth Nvidia (NASDAQ: NVDA), one of the "Magnificent Seven" tech stocks.
Source Fool.com
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