Tech Down as Houthi Attacks Spur Inflation Worries - Tech Roundup
Shares of technology companies shares fell as Houthi attacks in Saudi Arabia spurred inflation fears.
"Investors have very short-term memories," said J.D. Joyce, president of Houston financial advisory firm Joyce Wealth Management. "They need that constant reassurance to see that, 'yes, everything is OK...we've still got all this pent-up demand and earnings are going through the roof.'"
Shares of Meta Platforms rallied after the Facebook owner unveiled a new pair of AI models it said could compete with models from leaders OpenAI and Anthropic. The breakthrough came in the wake of its successful launch of AI agent Muse, which has become a popular digital assistant among consumers.
Quantum-computing company IonQ struck an all-stock deal to buy Elisity in a transaction that values the cybersecurity firm at up to $1.3 billion, executives told The Wall Street Journal.
Dating app Bumble entered talks to be taken private in a deal that values it at roughly $1 billion.
Amazon entered talks to acquire AI startup Decart for about $7 billion.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 12, 2026 17:08 ET (21:08 GMT)
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