By Marcin Frąckiewicz
Publication Date: 2025-12-12 17:49:00
Updated: Friday, Dec. 12, 2025 (midday U.S. session). Prices cited below reflect quotes around 12:25 p.m. ET and may move quickly.
Wall Street’s AI trade is getting stress-tested again on Friday — and the pressure point isn’t demand for AI, but what investors are willing to pay for it.
By midday, AI-chip and AI-infrastructure leaders are leading the downside after Broadcom’s margin warning and renewed unease around Oracle’s debt-funded AI buildout, prompting a broad pullback in the Nasdaq-heavy growth complex. At the same time, the broader market remains within reach of record territory, with investors rotating into sectors perceived as less exposed to AI valuation risk. [1]
Midday market snapshot: AI and semiconductors are underperforming
At around midday Friday, tech and semiconductors are lagging the broader tape:
- S&P 500 proxy (SPY): down about 0.96%
- Nasdaq-100 proxy (QQQ): down about 1.67%
- Semiconductor ETFs (SOXX, SMH): down roughly 3.5%–3.7%
That “semis first” weakness matters for the AI narrative because chips and data-center buildouts have been the most direct, most crowded expression of AI optimism in public markets.
AI stock prices today: key names and what’s moving them
Below is a quick look at major U.S.-listed AI bellwethers and AI-adjacent names around midday (quotes near 12:25 p.m. ET):
AI chips and infrastructure
- Broadcom (AVGO): down about 10.3%
- Nvidia (NVDA): down about 2.2%
- AMD (AMD): down about 4.0%
- Arm (ARM): down about 2.9%
