Wall Street was rattled this week as a sharp selloff hit technology and artificial intelligence-linked stocks, with heavyweights like Nvidia Corp. and Palantir Technologies Inc. leading the tumble despite reporting strong earnings. According to Benzinga, the Roundhill Magnificent Seven ETF, which tracks mega-cap tech stocks, fell 3.8%, erasing approximately $1 trillion in combined market capitalization from giants such as Apple, Microsoft, and Tesla. The Invesco QQQ Trust, a popular tech-heavy index fund, dropped nearly 5% for the week—its worst performance since April 2025—while the iShares Semiconductor ETF plunged 7%.
This sudden reversal in fortune comes at a time when many investors had been riding high on the AI wave, betting big on the sector’s continued growth. However, as analyst chatter noted, there’s growing concern that the AI boom may have run “too far, too fast.” The mood soured further when famed investor Michael Burry reportedly opened short positions against Nvidia and Palantir, fueling fears of an overheated market.
Despite the broader market’s jitters, some companies managed to post standout performances. CoreWeave Inc., for example, delivered third-quarter revenue of $1.36 billion, handily beating the $1.29 billion analyst estimate. The company also reported a smaller-than-expected loss of 8 cents per share, well ahead of the anticipated 37-cent loss, and saw its revenue backlog surge to $55.6 billion—nearly doubling quarter-over-quarter, as reported by Benzinga.
Virgin Galactic Holdings Inc. also made headlines, with shares jumping after the company posted Q3 revenue of $2.74 million, up from $1.7 million a year earlier. The company detailed progress on its next-generation Delta-class spaceplanes and confirmed its final commercial spaceflight is scheduled for June 2025 before a multi-year pause for fleet transition. According to Benzinga, this update has given investors something to look forward to, even as the company prepares to scale back operations temporarily.
But not all earnings reports were met with enthusiasm. Oklo Inc., a company focused on designing and developing fission power plants and used nuclear fuel recycling services, reported a third-quarter loss of $0.20 per share, missing the consensus estimate of a $0.13 loss. The company logged an operating loss of $36.3 million and no revenue for the quarter. Despite holding $410 million in cash and $773.5 million in marketable securities, Oklo’s stock dropped sharply on the results. Shares fell 3.6% on November 14, 2025, trading as low as $93.49 and closing at $97.95, with 15,446,934 shares traded—a 17% decline from average session volume, according to MarketBeat data.
Wall Street analysts remain divided on Oklo’s prospects. Several research firms have weighed in recently: William Blair reissued an “outperform” rating, while The Goldman Sachs Group initiated coverage with a “neutral” rating and a $117 target price. B. Riley raised its price objective from $58 to $129 and gave the stock a “buy” rating, whereas BNP Paribas upgraded it to a “strong sell.” Citigroup increased its target price from $30 to $68 and maintained a “neutral” rating. In total, Oklo has one Strong Buy, eight Buy, seven Hold, and four Sell ratings, with an average “Hold” rating and a consensus target price of $106.29, as compiled by MarketBeat.com.
Oklo’s price performance has been volatile, with a fifty-day simple moving average of $122.45 and a 200-day average of $79.96. As of mid-November 2025, the company had a market capitalization of $14.46 billion, a price-to-earnings ratio of -181.38, and a beta of 0.70, indicating moderate volatility relative to the broader market.
Insider activity has also drawn attention. CEO Jacob Dewitte sold 300,000 shares on September 30, 2025, at an average price of $112.26, totaling $33,678,000. After this transaction, Dewitte directly owned 9,780,098 shares, valued at approximately $1.1 billion. Director Michael Stuart Klein sold 50,000 shares at $133.76 per share earlier in September, representing a 25% decrease in his position. In total, insiders sold 491,387 shares worth $52,698,580 in the last quarter, with insiders currently owning 18.90% of Oklo’s stock.
Institutional investors and hedge funds are major stakeholders in Oklo, collectively owning 85.03% of the company’s stock. Recent institutional activity includes Armstrong Advisory Group Inc., Gables Capital Management Inc., and Nemes Rush Group LLC acquiring new positions in the third quarter of 2025. CI Investments Inc. notably increased its stake by 153% during the same period, while Whittier Trust Co. of Nevada Inc. also took a new stake.
Other technology firms experienced turbulence as well. Rigetti Computing Inc. saw its shares fall after reporting mixed third-quarter results: an adjusted EPS of $0.09 beat expectations, but revenue of $1.95 million missed the $2.04 million estimate. The company also warned that meaningful commercial revenue remains years away. USA Rare Earth Inc. reported a third-quarter loss of $0.25 per share, much wider than the expected $0.10, though it ended the quarter with about $258 million in cash and no significant debt.
Looking ahead, investors are keeping a close eye on inflation data and central bank commentary for clues about whether the AI-driven rally can regain its footing or if the correction will deepen. The narrowing market breadth, with traders rotating into more defensive sectors like energy and healthcare, suggests that caution is prevailing for now.
Despite the week’s volatility, some analysts remain bullish on select AI stocks. Bank of America Securities analyst Vivek Arya reaffirmed a “Buy” rating on Nvidia, describing the stock as “particularly compelling” thanks to strong order visibility in AI infrastructure, and forecasting about 50% revenue growth and 70% earnings-per-share growth in 2026. Arya noted that Nvidia is trading at roughly 24 times forward earnings, making it attractive for long-term investors seeking exposure to the AI sector.
As the dust settles from this week’s selloff, the market’s next moves will be shaped by a delicate balance of optimism about technological innovation and caution over valuations that may have gotten ahead of themselves. With so much cash still on the sidelines and institutional investors adjusting their positions, the coming months promise to be a test of nerves for bulls and bears alike.
