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Nasdaq dips as AI tech faces profit-taking
Nasdaq slipped as investors booked profits in AI stocks, reflecting caution over elevated valuations while innovation momentum continues.
The Nasdaq Composite fell 0.67% as investors booked profits in high-flying AI stocks. Nvidia declined 1.1%, while AMD jumped 23.7% following a chip partnership announcement with OpenAI. The rotation underscores caution toward stretched AI valuations even as sector innovation remains robust. Capital moved from established leaders to emerging entrants, signaling a more balanced allocation across the semiconductor and AI technology space amid evolving market sentiment.