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Nasdaq sinks more than 2% as investors raise questions about AI debt
Tech stocks had a tumultuous week as concerns, including higher interest rates and mounting AI debt, continued to weigh on investor sentiment.
The Nasdaq Composite fell 2.14% on Friday, bringing its weekly losses to roughly 4.5% â its worst week since June. The S&P 500 fell 1.09%, putting its weekly losses at almost 2%, also its worst week since June.
The Nasdaq and S&P clinched record highs just 10 days ago. But since then, the market has stumbled as jitters spread about whether rising borrowing costs will put pressure on risky corners of the AI boom that are reliant on debt.
At the center of concerns is a niche group called neoclouds, which rent computing power to companies in the AI boom. CoreWeave (CRWV), a neocloud that went public in 2025 and is backed by Nvidia, has emerged as a particular source of market anxiety.
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