AI stock selloff spreads to Asia after hot inflation report raises rate fears

Major AI stocks fell sharply after a hotter US inflation report raised concern about borrowing costs. Reuters said CoreWeave, Nebius, Oracle and Dell lost about $80 billion in combined market value, while AP reported the Nasdaq dropped 1.9%. Reuters said higher rates could weigh most on less-profitable borrowers. The Financial Times reported the selloff spread to Asian markets Thursday, with South Korea’s Kospi down 7.5% and Japan’s Nikkei down 4.2%.