Bitcoin was falling on concerns about lofty artificial intelligence-related stocks following results from Oracle and Broadcom.
Broadcom shares dropped in after-hours trade after the chip company’s sales outlook fell short of expectations and it warned of lower margins in AI revenue compared to non-AI revenue. Oracle shares dropped Thursday after the database company posted disappointing revenues and raised its spending forecast.
The results reignited fears over an AI bubble, offsetting the positive impact of the Federal Reserve’s interest-rate cut on Wednesday for risky assets.
