PARIS/LONDON/ZURICH (dpa-AFX) – Concerns that have arisen again about high valuations of AI stocks have clouded the actually good mood on the European stock exchanges shortly before the weekend.
The Eurozone leading index EuroStoxx 50 closed on Friday at 5,720.71 points, down 0.58 percent, after approaching its record high of 5,818 points in mid-November.
Things also fell outside the euro area. The British FTSE 100 fell 0.56 percent to 9,649.03 points and the Swiss SMI fell 0.14 percent to 12,887.48 points.
As the Bloomberg news agency reported, citing people familiar with the matter, the software and hardware company Oracle has postponed completion dates for some of the data centers for the AI model developer OpenAI from 2027 to 2028, primarily due to labor and material shortages.
After the long rally of many AI stocks, this seems to have once again raised concerns about when companies will make money from their AI businesses given scarce resources and thus possibly even higher investments. Such concerns have been a recurring concern recently.
The tailwind for the stock markets from the key interest rate cut in the USA therefore took a back seat for the time being./mis/jha/