A broad selloff hit AI-linked hardware and chip stocks on Wednesday as investors locked in gains from a months-long rally and questioned how long red-hot demand for AI infrastructure can support current valuations.
Dell Technologies Inc (NASDAQ:DELL) fell as much as 12%, touching a session low of $397.69, after a report that Meta Platforms is developing plans to lease out surplus AI training and inference capacity to enterprise customers. The news stoked concern that hyperscale cloud providers may have over-built data center infrastructure, a development that could slow future server orders for system integrators such as Dell.
Aehr Test Systems (NASDAQ:AEHR) shares jumped 30% after the semiconductor test and burn-in equipment provider reported fiscal fourth-quarter results that exceeded Wall Street expectations and provided a stronger-than-anticipated revenue outlook for fiscal 2027.
The company posted adjusted earnings of $0.11 per diluted share for the quarter ended May 29, 2026, compared with analyst expectations for a loss of $0.01 per share. Revenue came in at $18.8 million, ahead of consensus estimates of $17.9 million and up from $14.1 million in the year-ago period.
Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) announced that lithium carbonate produced from its 100%-owned Angel Island lithium project in Nevada was successfully converted into lithium metal and incorporated into battery cells as part of a US Army-backed research program.
The company reported that Alpha-En Corp converted the lithium carbonate into high-purity lithium metal using its proprietary extraction and electrodeposition process.
BlackRock Inc (NYSE:BLK) reported second-quarter profit that topped Wall Street estimates on Wednesday, powered by record inflows and higher fees.
The world's largest asset manager posted adjusted earnings of $13.91 per share, beating the average analyst estimate of $12.57 and up 15% from a year earlier.
ASML Holding NV (NASDAQ:ASML, XETRA:ASME) shares rose about 3% at the open on Wednesday after the semiconductor equipment maker reported second quarter results that topped expectations and raised its full-year 2026 revenue forecast.
The company posted second-quarter revenue of €9.33 billion (US$10.66 billion), above analyst estimates of €8.8 billion. Net income came in at €2.92 billion (US$3.33 billion), while earnings per share were €7.59 (US$8.67), both exceeding consensus forecasts.
American Resources Corp (NASDAQ:AREC)'s minority-held affiliate ReElement Technologies has been named part of a National Science Foundation-backed consortium eligible for up to $160 million in funding over 10 years.
The Critical Materials Crossroads consortium, led by the University of Missouri-Kansas City, was selected as one of the NSF's Regional Innovation Engines. ReElement Technologies, a rare earth element and critical mineral refining company, is among the consortium's industry collaborators.
BioHarvest Sciences Inc (NASDAQ:BHST, FRA:8MV0) said on Wednesday it has received a 4.33 million NIS (about $1.4 million) grant from the Israel Innovation Authority to fund a new research initiative applying machine learning and computer vision to its plant cell culture programs.
The update sent the company's shares 7% higher in early trade.