Finance

Chipmaker shares extended their recent losses as market participants increasingly question whether massive corporate expenditures on artificial intelligence can sustain current market valuations. Concerns further intensified following the launch of a new open-source AI model from China's Moonshot AI that reportedly rivals top-tier American systems.

Escalating military exchanges between the United States and Iran have stoked severe supply anxieties regarding critical transit choke points like the Strait of Hormuz, pushing Brent crude above $85 a barrel. Meanwhile, the broader economic fallout and resulting inflation fears have boosted domestic interest rate expectations, putting pressure on gold and steering it toward its sharpest weekly decline in several weeks.

Shares of the prominent streaming media company dropped sharply after the release of its quarterly financial update. Investors reacted unfavorably to a cautious revenue and growth projection for the upcoming third quarter, sparking worries about a deceleration in viewership momentum.