The AI trade cooled and oil sank. A closer look at Wall Street's volatile week

Wall Street spent the week debating who the biggest winners and losers of the artificial intelligence boom will ultimately be. Memory chipmaker Micron's blockbuster earnings reinforced the fervent demand for computing resources, but it also led investors to question whether the AI buildout is becoming too expensive for the hyperscalers funding it. The tech-heavy Nasdaq Composite fell 4.6% for the week, while the S & P 500 slipped 1.95%. The Dow Jones Industrial Average bucked the trend, edging up 0.6%, as lower oil prices benefited economically sensitive names and a rotation away from AI lifted healthcare stocks. Here's a closer look at what drove the market this week. Micron reignites the AI trade — for a day Semiconductor stocks came under pressure on Tuesday after a brutal sell-off in South Korea's Kospi Index spilled over to Wall Street. Shares of Korean memory giants Samsung and SK Hynix plunged overnight, dragging AI stocks on Wall Street lower and fueling concerns that the chip trade had finally run too far, too fast. Micron fell roughly 13% on Tuesday alone, while the Nasdaq Composite dropped 2.2%. Those fears eased Wednesday evening when Micron reported earnings. The company delivered a blockbuster quarter , more than quadrupling revenue from a year ago and issuing guidance for the current quarter well above Wall Street's expectations. …