Tech Down as AI Rally Slows - Tech Roundup

Dow Jones
Aug 15

Shares of technology companies fell as an artificial-intelligence rally slowed.

For companies caught up in the AI boom, expectations remained sky high. Shares of Applied Materials fell even after the maker of semiconductor-capital equipment posted strong earnings growth for its fiscal third quarter. China's DeepSeek is hiking prices for its flagship V4 models amid fierce competition among artificial intelligence players, though its latest prices remain well below its rivals.

Online forum Reddit rallied after reports it would replace luxury-apartment developer AvalonBay Communities in the S&P 500 index before the opening of trading on Tuesday, according to S&P Dow Jones Indices, which oversees the index.

PayPal is in talks to sell itself to a group that includes Stripe and the private-equity firm Advent International.

 

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