Semiconductor shares bounced on Friday after the deepest weekly fall of the AI correction. The semiconductor basket tracked in this site’s market tables rose 3.51 percent on the day to 136.53 dollars, and the Nasdaq 100 rose 1.35 percent, while the broader tech sector basket added 1.45 percent. The recovery was partial by any measure: semiconductors still closed the week down 13.13 percent, and the tech sector basket was down 8.23 percent on the week.
The single names show the same pattern. Nvidia rose 2.78 percent on Friday to 186.64 dollars but remains down 8.8 percent on the week. Tesla rose 4.23 percent to 358.22 dollars and is still down 10.4 percent on the week, and Broadcom rose 0.74 percent to 293.69 dollars against a weekly fall of 9.93 percent. The megacaps that sold off least earlier in the week were mixed on Friday: Alphabet rose 0.78 percent and Meta 0.84 percent, while Microsoft fell 0.99 percent, Apple 0.52 percent and Amazon 0.35 percent.
Nothing in this morning’s reporting identifies a single new driver for the Friday bounce, and this note does not invent one. The week’s fall, covered here on November 5 as the Nasdaq entered correction territory, was driven by doubts about returns on AI spending, weak chip earnings and post-election scrutiny of data center expansion. Separate transaction data published this week by Ramp, reported in a companion story today, shows corporate AI spending growth stalling even as usage volumes rise, which speaks to the same durability question the selloff repriced. Whether Friday was a durable turn will depend on the earnings still ahead, starting with Nvidia on November 17.