10 Stocks With Massive Losses; AI Stocks Not Spared

6. Fermi Inc. (NASDAQ:FRMI)

Fermi Inc. saw its share prices decline by 5.96 percent on Monday to close at $25.39 apiece as investor sentiment was dampened by concerns for energy stocks tied to the AI bubble.

An opinion piece on the Wall Street Journal noted: “For all the fears about stretched technology shares, many of those companies are hugely profitable ones that will keep chugging along even if the artificial-intelligence boom doesn’t have legs. Not so in the energy sector.”

It said that a group of non-revenue-generating energy companies has collectively ballooned to more than $45 billion “in hopes that tech companies will one day pay for their yet-to-be-built power.”

For its part, Fermi Inc. (NASDAQ:FRMI) is a newly listed energy company that debuted only on the stock market last October 1, cashing in on the AI frenzy.

During its initial public offering, Fermi Inc. (NASDAQ:FRMI) was able to raise $682 million in fresh funds covering 32.5 million shares at a price of $21 apiece.