AI stocks retreat after Nvidia-driven rally
31/05/2023 13:40
** Shares of artificial intelligence companies C3.ai Inc
AI.N , Soundhound AI SOUN.O and Guardforce AI GFAI.O fall
between 1.7% and 5.2% premarket
** The stocks closed between ~9% and ~33% higher on Tuesday
when chipmaker Nvidia Corp NVDA.O breached the trillion-dollar
market valuation milestone briefly
** As of Tuesday's close, C3.ai was up ~147% in May
** Gaming and AI chip company NVDA was trading 1.8% lower
before the bell after over a 30% surge in the past three
sessions following co's stellar forecast driven by AI demand
** Up to last close, the Global X Robotics and Artificial
Intelligence ETF BOTZ.O had risen ~35% this year
(Reporting by Akash Sriram in Bengaluru)
((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))
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