Ten big names mimicked a broader market pessimism on Friday after finishing in the red, as investors generally unloaded portfolios to minimize risks from potential uncertainties during the long weekend.

Among Wall Street’s main indices, the tech-heavy Nasdaq fell the hardest, down 1.15 percent, followed by the S&P 500 with a 0.64-percent gain. The Dow Jones dropped by 0.20 percent.

Indices aside, these 10 stocks led Friday’s drop, with a number of AI companies notably joining the list. In this article, we elaborate on the reasons that dragged their prices down.

To come up with the list, we considered the stocks with at least $2 billion in market capitalization and 5 million shares in trading volume.

10. Nebius Group NV (NASDAQ:NBIS)

Nebius Group dropped its share prices by 5.16 percent on Friday to close at $68.32 apiece as investors took a cautious stance and rebalanced their portfolios amid warnings of an AI bubble.

This followed comments from OpenAI CEO Sam Altman earlier this month that the AI industry could already be entering a bubble, given the unsustainable heavy investments in the sector.

His warning triggered a sell-off among firms riding the AI wave, as investors feared that it could be a repeat of the “dot com” bubble in the 90s that led to a market crash after investors poured funds into companies with unsustainable business models.

An AI bubble poses significant implications to companies riding the boom, and Nebius Group NV (NASDAQ:NBIS) is especially exposed to such risks, particularly if returns on AI investments fail to materialize, as demand for cloud services and high-performance computing could decline and thus lead to underutilized AI infrastructures.

However, even with Friday’s drop, shares in Nebius Group NV (NASDAQ:NBIS) still increased by 25.5 percent in August alone.

9. Oklo Inc. (NYSE:OKLO)

Shares of Oklo Inc. declined by 5.46 percent on Friday to end at $73.64 apiece as investors resorted to early profit-taking while parking funds to mitigate risks from potential uncertainties that could arise during the long weekend.

Earlier this week, Oklo Inc. (NYSE:OKLO) received a “buy” recommendation and a whopping price target of $92 from Bank of America, given its capability to deliver fully wrapped and bankable power purchase agreements while retaining full independent power producer economics.

BofA said it expects Oklo Inc. (NYSE:OKLO) to achieve 13 percent of unlevered IRR for its first 75 MW projects, while next deployments could hit 26 percent IRRs through supply chain scale and cost efficiencies.

Looking ahead, BofA expects the nuclear firm to deliver 60 percent in EBITDA margins, far beyond the mid-teen levels typical across the sector.

In recent news, Oklo Inc. (NYSE:OKLO) signed a memorandum of understanding with ABB, a global leader in electrification and automation, to commission a digital monitoring room at its headquarters in Santa Clara, California.

The monitoring room, equipped with ABB technology, will anchor Oklo’s operator training and simulation center and reflect continued progress toward fleetwide deployment of its Aurora powerhouses.

8. Super Micro Computer, Inc. (NASDAQ:SMCI)

Super Micro Computer, Inc. (NASDAQ:SMCI) dropped its share prices by 5.53 percent on Friday to close at $41.54 apiece following announcements that it was again facing material weaknesses in internal control over financial reporting.

In a regulatory filing to the Securities and Exchange Commission, Super Micro Computer, Inc. (NASDAQ:SMCI) said that it identified material weaknesses “in our internal control over financial reporting, which could, if not remediated, adversely affect our ability to report our financial condition and results of operations in a timely and accurate manner.”

It noted that it has already incurred, and will continue to face, significant expenses related to such circumstances.

Last year, Super Micro Computer, Inc. (NASDAQ:SMCI) was embroiled in a similar scenario that pushed its external auditor, Ernst & Young LLP, to resign over concerns about governance and transparency.

Its auditor’s resignation affected its ability to file its annual report before the deadline.

7. BILL Holdings Inc. (NYSE:BILL)

BILL Holdings snapped a two-day winning streak on Friday, shedding 5.65 percent to close at $46.42 apiece as investors resorted to early profit-taking following the previous day’s 18-percent gain.

On Thursday, BILL Holdings, Inc. (NYSE:BILL) said it was targeting to grow its revenues by 9 to 11 percent for fiscal year 2026 to $1.589 billion to $1.629 billion, as well as its net income to $236 million to $260 million.

For the first quarter alone, revenues were pegged at $385 million to $395 million, marking a year-on-year revenue growth of 7 to 10 percent. Net income was expected to hit $56.5 million to $60.5 million.

Also on Thursday, BILL Holdings, Inc. (NYSE:BILL) announced its earnings performance for the fourth quarter of the recent fiscal period, where it swung to a net loss of $7.07 million from a $7.6 million net income in the same period last year. Total revenues, however, were higher by 11.66 percent at $383 million versus $343.66 million year-on-year.

6. Oracle Corp. (NYSE:ORCL)

Oracle Corp. saw its share prices decline by 5.9 percent on Friday to end at $226.13 apiece as investors sold off positions in Artificial Intelligence stocks amid warnings of an AI bubble.

This came after OpenAI CEO Sam Altman cautioned earlier this month that the AI industry could be entering a bubble, given the unsustainable heavy investments in the sector.

His comments triggered a broader investor pessimism, as investors feared that it could be a repeat of the Internet bubble in the 1990s, where companies soared to peak levels due to speculative investing and the rapid internet growth, then crashed steeply after failing to sustain growth and profits.

An AI bubble poses significant implications to companies linked to AI, and Oracle Corp. (NYSE:ORCL) is especially exposed to such risks. If returns on AI investments fail to materialize, demand for cloud services and high-performance computing could also decline and lead to underutilized AI infrastructures.

5. Credo Technology Group Holding Ltd. (NASDAQ:CRDO)

Credo Technology declined by 6.65 percent on Friday to end at $123.06 apiece as investors unloaded portfolios in AI stocks amid continued caution over a potential AI bubble.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) dropped alongside its AI counterparts, namely Oracle Corp. and Nebius Group, as warnings about an AI bubble lingered among investors.

It can be recalled that a bubble occurred in the 90s, significantly dragging the tech-heavy Nasdaq after investors heavily poured funds into technology firms that went unsustainable during the period.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO), a company riding the AI wave, is especially exposed to such risks, particularly if returns on investments fail to materialize, as demand for cloud services and high-performance computing could decline and thus lead to underutilized AI infrastructures.

4. Webull Corp. (NASDAQ:BULL)

Webull dropped its share prices by 7.36 percent on Friday to finish at $13.59 apiece as investors sold off positions following a dismal earnings performance in the second quarter of the year.

In its updated report, Webull Corp. (NASDAQ:BULL) said net loss attributable to shareholders expanded by 2,188 percent to $518.86 million from only $22.67 million in the same period last year, dragged mainly by a significant loss related to the fair value of ordinary shares issued to preferred shareholders. Total revenues, on the other hand, increased by 46 percent to $131.49 million from $89.89 million in the same comparable period, with trading revenues increasing 63 percent year-on-year.

In the first half, attributable net loss narrowed by 53 percent to $527.48 million from $1.123 billion registered in the same period last year, while revenues increased by 39 percent to $248.86 million from $178.83 million year-on-year.

“The environment for retail self-directed trading was the best we’ve seen since the COVID-19 pandemic, and with the market now in a new era driven by a more discernable regulatory environment, Webull is more focused than ever on delivering new products to our sophisticated retail trading cohort, as demonstrated by our recent re-launching of crypto and our ongoing global expansion,” said Webull Corp. (NASDAQ:BULL) President and CEO Anthony Denier.

3. Dell Technologies Inc. (NYSE:DELL)

Dell Technologies snapped a two-day winning streak on Friday, shedding 8.88 percent to finish at $122.15 apiece as investor sentiment was dampened by its lower-than-expected earnings per share (EPS) guidance for the third quarter of the fiscal year 2026.

In an updated report, Dell Technologies Inc. (NYSE:DELL) said it targeted EPS of $2.45, falling short of LSEG’s $2.55 expectations. Revenue guidance, however, topped estimates at $27 billion, versus $26.1 billion as predicted by analysts.

According to Dell Technologies Inc. (NYSE:DELL), part of the reason was that its profit forecast was concentrated in the fourth quarter of the year due to seasonality, particularly in the storage segment.

For the full-year period, the company was targeting between $$105 billion and $109 billion in revenues, up 12 percent year-on-year at the midpoint. Third quarter revenue, meanwhile, was pegged at $26.5 billion and $27.5 billion, up 11 percent year-on-year at the midpoint of $27 billion.

In the past quarter, Dell Technologies Inc. (NYSE:DELL) saw its net income increase by 32 percent to $1.16 billion from $882 million in the same period last year, while revenues grew 19 percent to $29.8 billion from $25 billion year-on-year.

2. Wheels Up Experience Inc. (NYSE:UP)

Wheels Up fell by 11.21 percent on Friday to close at $2.93 apiece as investors booked profits following the previous day’s 20-percent gain, while repositioning portfolios ahead of its presentation at an industrials conference next week.

In a statement, Wheels Up Experience Inc. (NYSE:UP) said its CEO, George Mattson, will present in person at the Jefferies Industrials Conference in New York on Thursday, September 4, 2025, where investors will be looking out for cues on business plans and outlook for the rest of the year.

Last week, Wheels Up Experience Inc. (NYSE:UP) was able to raise $20 million in fresh funds from the sale of Baines Simmons, Kenyon International Emergency Services, and Redline Assured Security to TrustFlight, one of the leading aviation safety and compliance solutions providers.

It said the sale would result in some $50 million in cost savings expectations, and support the company’s strategic focus, investments in products, fleet, and operations, as well as strengthen its balance sheet.

“The sale, along with our recently announced initiatives estimated to drive approximately $50 million of cost efficiencies, is expected to create meaningful tailwinds on our path to sustained, profitable growth,” Mattson said.

1. Marvell Technology Inc. (NASDAQ:MRVL)

Marvell Technology snapped a three-day winning streak on Friday, slashing 18.6 percent to close at $62.87 apiece as investors soured on its weak outlook for the third quarter of fiscal year 2026.

In its updated report, Marvell Technology Inc. (NASDAQ:MRVL) said it was targeting net revenues to hit $2.06 billion, plus or minus 5 percent, despite performing well in the second quarter of the year.

During the period, Marvell Technology Inc. (NASDAQ:MRVL) swung to a net profit of $194.8 million from a $193.3 million net loss in the same period last year. Net revenues surged by 57 percent to $2 billion from $1.27 billion year-on-year.

“Marvell delivered record revenue of $2.006 billion in the second quarter—a 58 percent year-over-year increase—and we expect continued growth into the third quarter, accompanied by operating margin and earnings per share expansion,” said Marvell Technology Inc. (NASDAQ:MRVL) Chairman and CEO Matt Murphy.

“Marvell’s growth is being fueled by strong AI demand for our custom silicon and electro-optics products, as well as a significant increase in the pace of recovery in our enterprise networking and carrier infrastructure end markets. Our custom AI design activity is at an all-time high, with the Marvell team now engaged in over 50 new opportunities across more than 10 customers,” he added.

While we acknowledge the potential of MRVL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MRVL and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge fund investor letters by entering your email below.