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AI Tech Stocks Edge Up as Tech Selloff Abates
U.S. AI-related stocks were edging up premarket as the sector recovered slightly from a bruising end to last week.
Broadcom gained 0.8% premarket after closing down 11% Friday, while software company Oracle, the catalyst for last week’s tech stumble, gained 0.1%.
The tech-heavy Nasdaq dropped 1.62% last week—its biggest one-week percentage fall in three weeks—after Oracle announced higher-than-expected spending plans and investors questioned Broadcom’s sales forecasts and a contracts backlog.
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