Baird tech strategist Ted Mortonson said Wall Street is 'tiring of the Bank of Nvidia, the Bank of AMD and the Bank of Broadcom', with the AI-stock selloff increasingly about who needs financing and what it costs. He cited a higher cost of capital and scrutiny of circular finance, and said CoreWeave, Nebius and Oracle are 'probably at the bottom' of tech on free cash flow and are very dependent on financing. A new Gartner forecast that most neocloud providers will 'cease independent operations' by 2030 added to the pressure. Chipmakers with strong results, including Samsung, Micron and ASML, are also being sold, while the PHLX Semiconductor Index was up about 87% for the year as of Oct. 6 and closed Wednesday up 65% for that period. Mortonson called the pullback 'healthy' and said some institutional money may move to software as managers lock in performance before year-end.
Summary written by Upside AI from the original article. Read the source for full details.
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/14/2026 | 221.30 |
| Change that session | -3.16% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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