The three major stock indices on the New York Stock Exchange closed mixed amid semiconductor challenges.
On the 22nd (Eastern Standard Time), the Dow Jones Industrial Average closed at 44,502.44, up 179.37 points (0.40%) from the previous session. The Standard and Poor's (S&P) 500 index rose by 4.02 points (0.06%) to 6,309.62, while the Nasdaq Composite Index fell by 81.49 points (0.39%) to close at 28,892.69.
The previous day, The Wall Street Journal (WSJ) reported that due to difficulties in raising capital, SoftBank and OpenAI were scaling back their joint $500 billion (approximately 690 trillion won) artificial intelligence (AI) infrastructure project 'Stargate', causing turmoil in the semiconductor stocks.
Earlier, SoftBank announced in January that it plans to invest $500 billion in AI-related infrastructure in the U.S. over the next four years alongside OpenAI and Oracle. At that time, they stated that they would initially inject $100 billion and would invest the remaining amount over four years.
On this day, NVIDIA's stock price recorded a sharp drop of 2.54% to $167.03, reducing its market capitalization to $4.73 trillion. Additionally, Micron fell by 3.54%, Broadcom by 3.34%, and Intel by 0.09%, resulting in a general decline in the stock prices of major semiconductor companies. The semiconductor index on the New York Stock Exchange recorded a drop of 1.75% to 5,638.71 points.