The New York market will be driven this week by the acceleration of third-quarter earnings releases, with changing investor sentiment toward AI-related stocks in focus; the Nasdaq plunged 4.48% for the week.
Last week, declines in tech stocks accelerated in the New York equity market as heavy borrowing for AI data centers and GPU leasing businesses weighed on sentiment. The Nasdaq Composite fell 4.48% for the week, its sharpest decline since the week at the end of June. The Philadelphia Semiconductor Index also plunged 11.41%.
After issuing approximately US$2.8 billion of 9.75% bonds due 2031, CoreWeave issued additional bonds and announced approximately US$3.7 billion of convertible bonds due 2033 in September. Scheduled principal repayments on the publicly disclosed total debt as of the end of June 2026 reached approximately US$35.55 billion.
Although the market continues to recognize CoreWeave's business competitiveness, large-scale sales of founder shares after the IPO and rising funding costs have increased investor doubts. Some expect capital spending to slow after the peak of the AI investment cycle, raising the possibility of greater differentiation among companies.
Around 70 S&P 500 constituents, including Tesla and Meta Platforms, are scheduled to release third-quarter results this week. The market is expected to assess the economic trajectory through earnings trends in sectors outside AI and semiconductors, October housing indicators, the PMI and the preliminary GDP figure.