SKHY (-11.00%) (24H)
MU (-7.45%)
SKHY (-14.50%)
NVDA (-4.52%)
It would be advisable to keep a close eye on the aforementioned companies. The charts are looking shaky while their prices are battling to maintain above the moving averages on the Daily.
I am not trusting the current AI narrative as AI has not provided any increase in productivity for companies or within economies. AI in its current state is mostly being used in trivial ways and has not been the foundation of any significant progress.
This could mostly be companies, such as OpenAI and NVIDIA, pushing the narrative for the sake of monetary gain. Furthermore, the U.S. government has stated that it will invest heavily in Artificial Intelligence. Thus, making the receiving companies "too big to fail", if things come tumbling down, only to be bailed out by tax payers' money.
A story that keeps repeating...