Zohran Mamdani Says Quantum Is Poised to Become a ‘Multi-Trillion Dollar Industry’ and New Yorkers Should ‘Share in That Profit’

Shares of semiconductor and chip companies are trading lower as rising inflation concerns and elevated energy prices fuel expectations for further Fed rate hikes. Elevated borrowing costs could pressure semiconductor manufacturing and AI infrastructure investments while straining customer budgets. The Philadelphia Semiconductor Index (SOX) has declined for seven consecutive trading sessions, matching its longest losing streak since the 2008 financial crisis.

Shares of semiconductor and chip companies are trading lower as rising inflation concerns and elevated energy prices fuel expectations for further Fed rate hikes. Rising borrowing costs could pressure fab and AI infrastructure while straining customers budgets. Semiconductor stocks also faced pressure after South Korea’s Kospi index fell more than 7% overnight.

TD Cowen Reiterates Buy on GLOBALFOUNDRIES, Maintains $75 Price Target

Google Just Put AI in Space. It Had to Hitch a Ride on Elon Musk’s Rocket.

Google launched its Project Suncatcher test satellite with four AI chips to orbit via SpaceX Falcon 9, testing whether AI chips can survive harsh space conditions. Meanwhile, Elon Musk has filed plans with the FCC for a million data center satellites to address AI's massive power consumption bottleneck. Altucher argues Musk is two decades ahead of competitors and identifies a small supplier providing critical data networking infrastructure as a potential key beneficiary.

Stock Market Today, Oct. 16: Apple Edges Higher on iPhone Duo Preorder Surge

Apple stock rose 0.43% to $343.46 on October 16, 2026, following strong demand for its new iPhone Duo foldable smartphone, which sold out within minutes with delivery dates pushed to late January. The broader market declined, with the S&P 500 down 1.09% and Nasdaq down 2.14%, as investors focused on AI-related debt pressure and semiconductor weakness.

Not Alphabet. Not Microsoft. This Is the Cloud Stock I'd Buy With $5,000 Right Now.

Oracle is positioned as an attractive cloud computing investment alternative to Alphabet and Microsoft, with its cloud infrastructure business growing 121% and a record $664 billion backlog. However, heavy data center spending has pushed free cash flow negative, raising questions about whether Oracle can convert its customer commitments into sufficient profits.