Nvidia, AMD and Dell slide as AI financing concerns spread across markets

Nvidia, AMD and Dell joined a global retreat in technology stocks on October 15 as concerns about financing AI infrastructure intensified. The declines followed a sharp US market sell-off as inflation concerns added pressure to companies dependent on large investments in computing capacity.

Nvidia traded nearly 2% lower and AMD roughly 4% lower during Thursday’s session before chip stocks trimmed losses. In Asia, SK Hynix fell more than 10%. The Nasdaq Composite had lost 1.88% on Wednesday, while the S&P 500 declined 1.11%.

The financing pressure comes alongside substantial orders for AI equipment. Dell said in its September earnings announcement that its AI server backlog reached $95 billion, with quarterly orders of $60.9 billion. Those commitments illustrate the scale of the infrastructure spending under scrutiny.

Borrowing costs remain a key issue for companies building and renting AI computing capacity. CoreWeave recovered from an early Thursday drop after losing more than 15% in the previous session, showing that trading remained unsettled as investors reassessed debt exposure.