We recently published 10 Stocks With Massive Losses; AI Firms Not Spared. Credo Technology Group Holding Ltd. is one of the worst performers on Friday.
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. dropped alongside its AI counterparts, namely Oracle Corp. and Nebius Group, as warnings about an AI bubble lingered among investors.
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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., 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.
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This article is originally published at Insider Monkey.
