This is certainly a tree shake before tomorrow's FOMC in which it is expected the FED will keep interest rates steady or a very outside chance that they will increase them.
There is nearly a 0% chance that they will lower interest rates, so shorters are pretty safe knowing that and eventually increasing their positions in companies with high potential so they can mop up later.
Also the Motley Flipfacers are at it again so retail may have sold down in the last two hours of trading as well.
Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price is down over 7% to 32 cents. Investors have been hitting the sell button today after global semiconductor giant
Nvidia Corp (
NASDAQ: NVDA)
announced its new Blackwell artificial intelligence chips. The company spent an estimated US$10 billion on the research and development budget for the processor. It's possible now that some investors are finally realising that Brainchip has almost zero chance of competing with the giant given its shoestring budget. Sam Altman, CEO of OpenAI, commented: "Blackwell offers massive performance leaps, and will accelerate our ability to deliver leading-edge models. We're excited to continue working with NVIDIA to enhance AI compute."