US natural gas futures extend intraday gains to 3.00%, trading at $3.036/MMBtu.

AMD (AMD.O) fell as much as 11%, hitting its lowest level since July.

Plato Investment Management’s head of long-short strategies David Allen said Thursday’s selloff reflected investors confusing AI’s transformative potential with whether related investments will produce returns; the Nasdaq 100 plunged as investors sold US tech amid speculation congressional Democrats will tighten AI regulation. Allen said hyperscale cloud providers are locked in a survival competition and that midterm election results served as the immediate catalyst for the decline. Antipodes Partners portfolio manager Vihari Ross said the selloff is a market-led reassessment of the practical constraints on the next phase of AI investment — heavy debt financing (making funding costs and interest rates critical), the need for large, reliable power supplies, and whether end demand can sustain current assumptions.