Today's stock market

Global AI concerns drove ABB down

ABB was one of Monday's losers on the Stockholm Stock Exchange. Behind the loss was increasing concern about developments in the AI ​​sector.

- The stock is going up and down with AI and data center sentiment, says Anders Roslund, engineering analyst at Pareto, to DI.

Behind today's AI concerns is information from the analysis firm Semianalysis that the start of production for Nvidia's AI server system Kyber NVL 144 is being delayed for over a year due to setbacks in the design of circuit boards for the platform.

Roslund believes that ABB will continue to fluctuate up and down with sentiment for investments in data centers, but that the company is a long-term winner if you believe the trend.

At the close, ABB had recovered somewhat and closed down just under 1 percent for the day after a chip rally on Wall Street.

Mostly up on Wall Street – chip stocks rise

The US stock markets are mostly trading up after the long weekend with National Day celebrations. The technology-heavy Nasdaq in particular is doing well as several chip companies rise and at 18.15 the index is up 1.4 percent. The broad S&P500 is up 0.7 percent at the same time, while the Dow Jones is down 0.1 percent.

The development comes as a rebound after many chip stocks had a tough time last week, notes CNBC. Fundstrat strategist Mark Newton notes that the financial, health and industrial sectors instead performed strongly. "The broader sector rotation is very positive," he writes in a comment.

AMD is up 9 percent, Western Digital is up 7 percent, while Broadcom, Intel, Micron and Marvell  are up around 3-4 percent.

Among the tech giants, Tesla is up 6 percent, while  Meta and AlphabetMeta and Alphabet are up around 2 percent. Microsoft is down 1.5 percent after laying off 4,800 employees and announcing that another 1,600 will leave in the coming year.

On the other hand, software company Datadog, which has received a downgrade from analyst firm Bernstein, is down a few percent.

Swedish payment giant Klarna's shares are up just over 1 percent. On Monday, the company announced that it has applied for a banking license in the United States.