Updated
Updated · CNBC · May 19Blackstone, Alphabet Rise on $5 Billion AI Infrastructure Venture as Chip Stocks Slide Again
16 articles · Updated · CNBC · May 19
- $5 billion in new equity from Blackstone for an AI infrastructure company with Google lifted both stocks 0.7% in premarket trading.
- The move stood out in a mixed tape before the bell, with investors rewarding companies tied to fresh AI buildout spending.
- Home Depot added 0.6% after adjusted EPS of $3.43 beat the $3.41 estimate and revenue reached $41.77 billion, above forecasts.
- Amer Sports climbed 2.9% as quarterly earnings of 38 cents a share and $1.95 billion in revenue topped expectations.
- Chip shares remained under pressure, with Seagate down 3%, Micron off 1.7% and Nvidia lower by nearly 1%.
Why did Nvidia's stock dip despite record earnings, and what does this signal about the future of AI investment? With chip prices soaring over 500%, why are memory stocks like Micron and Seagate suddenly in a freefall? Nvidia's new Rubin platform is a 'generational leap.' How will it reshape the global race for AI dominance?