{
  "id": 7348288,
  "title": "Wall Street’s AI doomsday trade is here: chipmakers sink while hyperscalers gain",
  "url": "https://urgent.news/2026/09/14/wall-streets-ai-doomsday-trade-is-here-chipmakers-sink-while",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-14T15:26:48.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/09/14/ai-slowdown-stocks-nvidia-meta/"
  },
  "original_language": "en",
  "account": "On Monday, Wall Street witnessed a curious divergence as AI-related stocks exhibited contrasting movements. Nvidia, a prominent chipmaker, experienced a decline of more than 3%, while industry giants Intel, AMD, and Marvell saw their shares fall between 5% and 6%. These semiconductor stocks collectively dragged the Philadelphia Semiconductor Index down by nearly 6%. However, the tech giants Alphabet, Microsoft, and Meta bucked the trend, with Alphabet rising almost 2%, Microsoft adding 1.6%, and Meta gaining roughly 1.4%.\n\nThis stark contrast in stock performance highlights how investors are grappling with the potential slowdown in the frontier AI race. Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman, among others, have called for stronger safety measures and even a potential slowdown in model development. Some proposals have even suggested government intervention to impose a slowdown in AI development.\n\nAnalysts believe that if AI progress slows down, hyperscalers such as Google, Meta, and Amazon will continue building data centers to meet demand. However, if the growth of AI is curtailed, these companies could halt further investments in data center infrastructure and optimize their existing capacity, leading to improved cash flow. This dynamic is reminiscent of Amazon's post-pandemic pullback in warehouse construction, which resulted in increased cash flow as the company continued utilizing the capacity it had already established.\n\nContrasting opinions exist regarding the potential slowdown in AI spending. Tech analyst Dan Ives argues that if OpenAI and Anthropic slow down, software companies like Meta can still catch up and close the gap with the additional time. Additionally, China's AI industry shows no signs of slowing down, with the top AI lab, Z.AI, recently raising another $5 billion. However, Gil Luria, head of technology research at D.A. Davidson, remains skeptical about the real possibility of a slowdown in AI development, stressing that all major players are racing ahead or agreeing to a comprehensive slowdown.",
  "summary": "Nvidia fell more than 3% while Meta, Microsoft and Alphabet rose, as investors begin to separate the companies that need endless AI capex from those that could profit by cutting it.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}