Nasdaq Slips as AI Spending Bites
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The market started flat but sold off in the final hours of trade Friday, tech names on the Nasdaq 100 hit the hardest by Google and Tesla earnings mishaps.
Besides the huge CapEx updates, the market fears even more CapEx next week when the rest of the Mag 7, save Nvidia report. The rest of the market was worried about oil, as Iran and its proxies target shipping in the Red Sea. Late in the day prices for crude fell after Pakistan restated its hope for peace talks.
Trade wars are back, with refreshed levies hitting the majority of U.S. trade parties tonight. Trump also said he would look at further tariffs on the EU for fining tech giants, Canada for wildfire smoke, and Mexico for alleged parasite lettuce.
Stocktwits traders bought weakness in $PSKY, $HIMS, and $ORCL, but AI infrastructure produced the sharper divide. The $CRWV room leaned bearish after neoclouds sold off, while 91% of $XLE traders treated oil’s pullback as a breather.
Today’s Briefing: Powered by Stocktwits Community API.
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After the Bell: CoreWeave and Nebius sank as Big Tech’s spending backlash reached outside AI suppliers.
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Stocks: Paramount’s Warner deal could cost another $650M for every delayed quarter.
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Macro News: Rapidan sees Brent ending the year near $100 as three shipping routes face attacks.
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What’s Trending Now on Stocktwits
AFTER THE BELL
Neoclouds Catch The Bill ☁️
CoreWeave and Nebius, GPU cloud providers selling computing capacity to AI developers, sank Friday as the Mag Seven spending backlash spread from falling customers to the outside suppliers they rent.
The RIP: $NBIS fell -15%, and $CRWV dropped -11%. CoreWeave reported $98.8B in remaining obligations, $25.1B in debt principal, and 65% of first-quarter revenue from two customers. Meta committed $21B to CoreWeave and up to $27B to Nebius.
There was no fresh company-specific announcement Friday. The immediate trigger was the CapEx fears hitting the largest labs. The damage also reached the hardware underneath those clouds.
Connectivity-chip supplier $ALAB and flash-storage maker $SNDK each fell -11%, while optical and semiconductor names slid across the board. Investors were repricing the entire AI infrastructure stack, from rented GPUs to the chips, networking gear, and storage filling those data centers.
Meta’s July 1 plan to sell excess computing capacity remains the longer-term bruise: CoreWeave’s customer may eventually become a competitor. No contracts were canceled, but only 36% of CoreWeave’s obligations are expected to become revenue within 24 months, leaving investors funding years of construction before collecting the promised cash.
The $CRWV room is 56% bear on the selloff, test the thesis ->
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STOCKS
Hollywood’s Meter Keeps Running 🎬
On Friday, Paramount Skydance agreed to delay its $110 billion Warner Bros. Discovery acquisition until either the court says they can merge, or June 1, 2027. The decision came down after state attorneys general sued last week to block the deal. The delay is costly: starting September 30, every additional quarter will add roughly $650 million to Paramount’s purchase price, per its agreement with WBD.
The RIP: $PSKY fell -3%, while $WBD slipped -1%. Closing moved from September 30 to a court ruling or June 1, 2027. The ticking fee adds $0.25 per WBD share each quarter, roughly $650M, while a failed deal costs Paramount $7B.
Paramount called the agreement a win because it replaces a temporary restraining order with a direct route to trial. 😆 Economically, however, the clock now favors Warner shareholders. A delay through June could add more than $1B, compensating WBD investors while Paramount carries the financing burden.
Stocktwits traders are largely betting June 2027 is the ceiling, not the base case, but the share-price reaction shows Wall Street is charging Paramount for that optimism.
77% of $PSKY stayed bullish, betting the courtroom clock stops early →
MACRO NEWS
Oil’s Three-Front Squeeze 🛢️
The oil shock is no longer just a Strait of Hormuz trade. Attacks now threaten shipping through Hormuz, Bab el-Mandeb and the Black Sea, turning a regional war premium into a global transportation and inflation problem.
The RIP: $XLE added +0.5%, tanker operator $FRO gained +1.7%, and $XOM finished flat. Refiners faded, with $MPC down -0.7% and $VLO off -1.2%, even as Brent remained near $100.
Rapidan raised its fourth-quarter Brent forecast from $85 to nearly $100, assuming Hormuz traffic recovers to just 35% of prewar levels by October and approximately 65% during 2027. Goldman sees a path above $120 if the disruption persists.
The supply squeeze is spreading. Saudi barrels redirected toward the Red Sea now face Houthi attacks, while suspended Caspian Pipeline loadings threaten Kazakhstan’s 1.7M barrels per day of production. Ukraine also bombed Russia’s tanker fleet and refineries, knocking half of the country’s refining capacity offline. Part of their ongoing war, but alongside two other bombing campaigns, it’s more fuel for the oil price fire.
For markets, Rapidan said sustained $90 to $100 oil matters more than a temporary spike. It can lift producer cash flow, tanker rates and refining margins while raising freight, fuel and manufacturing costs across the economy. That creates a fresh inflation floor and makes the path toward lower interest rates harder, turning oil into a problem for nearly every sector.
The MCP Read: 91% of $XLE traders stayed bullish despite oil’s geopolitical-premium fade →
POPS AND DROPS
TRENDING NOW on Stocktwits
$UBER -4% | Uber
129.4K WATCHERS · NEUTRAL · NORMAL ACTIVITY
Uber slid after a report said Waymo may end their robotaxi partnership, with the Alphabet unit able to operate independently in Austin and Atlanta by January 2028. The neutral room is debating whether Uber remains the platform connecting autonomous fleets to riders or becomes the middleman those fleets eventually cut out.
$HIMS -15% | Hims & Hers
57.2K WATCHERS · BULLISH · HIGH ACTIVITY
Hims & Hers tumbled even after an FDA advisory panel voted 8-6 to recommend several peptides for pharmacy compounding. Bulls see a new product runway for the telehealth company, while skeptics note that an advisory vote is not final approval and the market may have already priced in the peptide party.
$ORCL -4% | Oracle
67.6K WATCHERS · BULLISH · HIGH ACTIVITY
Oracle reversed an early pop tied to a Pentagon software agreement worth up to $7B over 10 years. The bullish room kept buying the slide, but investors remain more worried about Oracle’s expanding debt, negative free cash flow, and AI infrastructure bill than one very large government customer.
ST EDITOR’S PICKS
Links That Don’t Suck 🌐
📈 Paramount agrees to delay closing Warner buyout for months while judge considers states’ challenge
😨 SpaceX stock stumbles ahead of major Starship test tonight
🏠️ Anthropic debuts Opus 5 model as company preps for IPO later this year
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