Tech Shares Slip as Nvidia Concerns Weigh on Rally

Shares of Nvidia competitors Advanced Micro Devices and Broadcom gained as traders wagered they could benefit from reputational damage to the chipmaker and possible upheaval in its operations.

Anthropic is targeting a $1.3 trillion valuation for its planned initial public offering, significantly below earlier targets. CoreWeave shares swung in late trading after the cloud-computing firm reported revenue roughly in line with Wall Street expectations and sought to ease investor concerns about its rising debt costs.