The AI relief rally has lost momentum in Asia and Europe, dragging tech stocks down with it. South Korean AI data center firm Elice saw its IPO plunge more than 30% on its first day of trading on the secondary market. CoreWeave also closed lower despite a Goldman Sachs upgrade, while HSBC forecasts an additional 36% drop. Two tech giants, Netflix and SpaceX, are reporting earnings after the Wall Street close, with expectations of 40% growth for Netflix in the third quarter.
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