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AI rally fades as AI stocks tumble and earnings focus shifts to Netflix and SpaceX
AI‑related stocks lost momentum in Asia and Europe, with CoreWeave and other neocloud firms falling sharply. South Korean AI data‑center IPO Elice dropped over 30% on debut, highlighting broader IPO setbacks. Investors turned to upcoming earnings from Netflix, expected to post 40% Q3 growth, and SpaceX, whose shares trade above the $135 IPO price. Nvidia announced a €10 billion investment program in Europe, partnering with German authorities and several AI startups. Meanwhile, European protests over cost‑of‑living issues continued across multiple countries.