NewsHK
The second day of a sharp technology sector sell-off continued on Wednesday, driven by concerns over the financing structure of artificial intelligence infrastructure and slowing revenue growth at key players.
While bond yields declined amid a flight to safety, equity markets remained under pressure, with the Russell 2000 down 11% from its highs and entering a correction.
A primary catalyst for the volatility was reporting on Anthropic, which Bloomberg stated generated $16.8 billion in third-quarter revenue and achieved adjusted profitability.
However, analysts noted that quarter-over-quarter growth has slowed, a trend consistent with flat token spending data tracked by RAM.
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