Tech stocks down, Alphabet and Meta licensing Hollywood content for AI video software

From NASDAQ: 2024-05-23 15:53:37

Tech stocks, including XLK and XSD, were down late Thursday, with the Philadelphia Semiconductor index falling 0.6%. Alphabet and Meta have discussed licensing Hollywood content for AI video software, causing Alphabet shares to drop 1.6% and Meta to fall 0.9%.

Nvidia saw its shares jump nearly 10% after reporting strong Q1 results and positive guidance. Greenwave Technology Solutions shares rose over 7% following the company’s announcement of retiring all convertible debt and preferred shares. T Stamp increased by 0.5% after filing a patent for an AI-based process to enhance biometric age estimation algorithms.



Read more at NASDAQ: Technology Sector Update for 05/23/2024: GOOG, META, GWAV, IDAI, NVDA