Ten large-cap names including IREN, CoreWeave, IonQ, Bloom Energy, Symbotic, and other tech/crypto/energy plays sank sharply last week on weak guidance, analyst downgrades, sector-wide tech and Bitcoin sell-offs, and mixed quarterly results.
Over the past few weeks, other miners, including Cipher Mining and IREN Energy, have also issued convertible bonds to raise capital for expansion into AI data centers.
Risk-off sentiment dominated Wall Street on Friday, with selling pressure in AI-linked names intensifying and pushing technology stocks toward their worst week since April.
U.S. stock futures rose on Friday after Thursday’s declines. Futures of major benchmark indices were higher. Thursday’s action was part of a broad selloff across Wall Street that saw U.S. stocks settle lower, with the Nasdaq Composite dipping more than 400 points during the session.
