IPO is trading 1.8% down today as profit-taking in the AI sector and anticipation of Fed minutes weigh on growth-oriented technology names.
- Samsung’s record AI-chip profit triggered concerns regarding the sustainability of hardware demand, sparking a sell-off in global semiconductors and U.S. tech.
- Broader risk-off sentiment is driving a retreat in mid-cap growth stocks as investors weigh higher-rate fears ahead of the Federal Reserve's meeting minutes.