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Source document· April 18, 2026

The Nasdaq Just Did Something It Hasn't Done Since 2020, and Here's What Could Happen Next

View original at nasdaq.com
The Nasdaq Just Did Something It Hasn't Done Since 2020, and Here's What Could Happen Next Key Points The stock market recently declined on the back of soaring oil prices, triggered by the conflict between the U.S…
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  • The knock-on effects will result in less revenue for suppliers of data center chips and networking components like Nvidia, Advanced Micro Devices, Broadcom, and Micron Technology

    60% confidence
  • The Nasdaq-100 technology index was already slipping prior to the war, as concerns mounted about the sustainability of the artificial intelligence (AI) spending boom

    60% confidence
  • History suggests the Nasdaq-100 will continue to rise over the long-term

    60% confidence
  • The stock market recently declined on the back of soaring oil prices, triggered by the conflict between the U.S. and Iran

    60% confidence
  • The 10 best stocks for investors to buy now could produce monster returns in the coming years

    60% confidence
  • If OpenAI and other top developers plan to spend less money on development, then Oracle and Microsoft will have to pull back on their infrastructure spending

    60% confidence
  • Time in the market always beats timing the market, so waiting on the sidelines for a better opportunity will often result in missed gains instead

    60% confidence
  • Investors might have already priced in a slowdown

    60% confidence
  • The index recently logged the largest 13-day gain since 2020, but the potential risks surrounding the AI industry haven't subsided

    60% confidence

Data points we hold from this source

OpenAI · capital expenditure target600 USD
OpenAI · capital expenditure previous estimate1400 USD
What we know · the intelligence behind this page
Live from the substrate
What we're seeing
AI Capital Boom Meets Valuation Jitters: Funding Surges While Bellwether Stocks Wobble
A dense wave of AI-sector funding (Socure, Stability AI, Emerald AI, Generalist AI, Gatik, Regent Craft and others closing rounds on the same day) and strong enterprise-automation earnings (UiPath raising full-year guidance) point to continued heavy capital deployment into AI infrastructure, fintech-adjacent AI, and agentic automation. Yet Palantir's stock fell even after winning the Army's high-profile TITAN contract, and commentary (e.g., the Alphabet bull case citing AI capex and regulatory risk) signals growing investor unease about whether current AI valuations and spending levels are sustainable.
Our read on the data ›
Signals we're tracking
Satellite-Terrestrial Network Integration Acceleration
Increased investment and launches in hybrid satellite-cellular networks across telecom industry; competitive responses from other carriers; regulatory activity around satellite spectrum; expansion of emergency/rural connectivity use cases
Patterns we're watching ›
Where sources disagree
ING Group
Both facts record the same metric (shares_outstanding) for ING Group at the identical observation date (2025-12-31). FACT A states 2,902,437,688 shares; FACT B states 2,902 million shares (2,902,000,000). The difference is 437,688 shares (~0.015%). This is a genuine value conflict, though the discrepancy appears to result from FACT B rounding to the nearest million while FACT A provides the precise count.
We flag conflicts openly ›
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