Company
Division of S&P Global providing financial data, research, and market analysis across equities, credit, and industry sectors.
More than $1 trillion left 20 of the largest AI and chip stocks this week, CNBC reported, while CoreWeave's 2031 bond yield reached 15.78%. TSMC guided to 58% higher fourth-quarter revenue in the same week, so we think financing terms and rates are the likelier targets of the sell-off.
Reality
Credit default swap costs on US tech borrowers hit record levels, with CoreWeave's above 1,000 bps against about 60 for an investment-grade index. Demand has also risen for Apple, Amazon and Microsoft, but the widest spreads sit on indebted names in a market that can trade in single digits a day.
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Simform CTO Hiren cites an S&P Global survey in which 42% of enterprises abandoned most AI initiatives before production, up from 17% a year earlier. Why those projects were dropped is not in the survey. That explanation is his own, out of client work.
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The scrutiny centres on revenue booked through data collection centres and joint ventures that local governments capitalised. One person familiar with the review put the valuation impact at 60 to 70 percent if that revenue is stripped out.
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Relay stopped operating on Monday after OpenAI and Google added the same workflow-agent capability to their own products. Two of the other four closures in the same account went the same way, and the 42% failure figure quoted alongside them counts something else.
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Relay shut down on Monday after five years, outpaced by automation OpenAI and Google built into their own tools. The other entries on the list failed on cost, retention, privacy or engineering, and S&P Global counts competition as one abandonment cause in five.
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Four 2025 surveys agree that most enterprise AI pilots die before production. The reasons executives gave for killing them differ from the workflow diagnosis practitioners offer, and the two point at different budget lines.
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The $4.765bn summer beat 2013's record by $9.3m on 547.1 million admissions against 795.9 million in 2019. Cinemark's average ticket, at $10.83, is the instrument being asked to close that gap.
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Retail-driven Shanghai is now where domestic memory and humanoid programmes raise equity. The first-day pops describe the allocation, not the fab. CXMT's revenue line is the number worth reading.
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Chinese issuers are raising money into a domestic bid that then multiplies it by five, which says more about rationed supply than about durable AI earnings. Shein, the non-AI name in the queue, got the residual.
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