Atreides Management LP Invests $87.60 Million in Intel Corporation $INTC

US May payrolls rose 172K vs 85K consensus, with unemployment steady at 4.3% and wages up 3.4%, while consumer credit beat at $20.73B. Equities fell sharply as Treasury yields jumped; the 10-year moved above 4.5% and the 30-year above 5%, with markets pricing a 98% chance of a Fed hike. Brazil’s real positioning reportedly flipped as CFTC net longs fell to 47.0K from 71.7K.

Chip stocks fell sharply Friday, with the PHLX Semiconductor Index (SOX) down 10.3%, its biggest one-day drop since March 16, 2020, according to Dow Jones Market Data. Micron shares fell about 13.3% and Marvell dropped 16.7%, alongside declines in Intel, AMD, Broadcom and Nvidia. Analysts cited a stronger-than-expected jobs report raising rate concerns and disappointment after Broadcom’s earnings forecast.

Chip stocks fell sharply as investors weighed higher-rate fears after a strong jobs report and concerns that AI spending may not deliver expected returns. The Nasdaq dropped 4.2% (worst in over a year); Micron, Intel, Super Micro and SanDisk fell 11%+; Nvidia and Cisco fell 6%+. The PHLX Semiconductor Index lost $1.2T, and 2-year Treasury yields rose to 4.16%.

Wall Street’s nine-week winning streak ended Friday as the Nasdaq Composite fell 4.18% and the S&P 500 dropped 2.64%, with chip and tech stocks leading losses. The Philadelphia SE Semiconductor Index plunged, wiping out more than $1 trillion in value, after May jobs data showed 172,000 jobs added and unemployment at 4.3%, raising expectations of a hawkish Fed.

U.S. stocks fell sharply on Friday, ending a nine-week winning streak as technology and semiconductor shares led losses. The Nasdaq dropped 4.18% to 25,709.43, the S&P 500 fell 2.64% to 7,383.74, and the Dow fell 1.35% to 50,866.78. The Labor Department said May jobs rose 172,000, above forecasts, raising expectations the Fed may keep rates higher longer. The Philadelphia Semiconductor Index fell over 11%, with major chipmakers including Nvidia, Intel, AMD, Micron, and Broadcom down.

President Donald Trump said his team is “looking into” a proposal for AI companies to give the American public a stake, and he plans to meet AI executives next week, according to his remarks on Air Force One. NOTUS reported U.S. officials held preliminary discussions with AI firms about possible government share purchases. The White House and major AI companies did not comment.