Shares of technology companies fell as a resurgence of artificial-intelligence enthuasiasm faded.
Adobe shares fell by roughly 5% after investors looked askance at the maker of design software's pledge to capitalize on AI trends.
Scale AI has been valued at more than $29 billion after a significant investment from Meta Platforms that will see its founder, Alexandr Wang, join the social-media giant to work on its AI efforts, an area where Meta Chief Executive Mark Zuckerberg has vowed to close the gap with rivals.
Nvidia shares fell, but one brokerage said recent initiatives from the European tech complex boded well for the chip maker. "The ramp of EU investment in AI datacenters is another bullish proof point for Nvidia's business beyond 2025," said analysts at brokerage Morgan Stanley.
Wall Street leveraged-buyout shop KKR is preparing a bid for Spectris, a U.K. maker of high-tech equipment and software. KKR is bidding against rival investment firm Advent International, which submitted a proposal valuing Spectris at roughly $5 billion.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-13-25 1722ET
