According to The Kobeissi Letter, Saudi Arabia has signed an agreement with Nvidia to purchase several hundred thousand AI chips, signaling a significant expansion of large cap tech firms into the Middle East (Source: The Kobeissi Letter, Twitter, May 16, 2025). This move is expected to accelerate AI infrastructure growth in the region, potentially increasing demand for blockchain-based data solutions and digital assets tied to AI and cloud computing. Crypto traders should monitor related tokens as capital inflows and tech adoption in the Middle East could trigger volatility and new opportunities in the AI-crypto sector.

According to The Kobeissi Letter, the Magnificent 7 Index has decreased by more than 30% from its all-time high on December 18th, indicating a significant downturn in large cap tech stocks. This decline is notable as the S&P 500 has fallen only 7.5% year-to-date, suggesting that investors heavily invested in large cap tech are experiencing greater losses. The current trend positions large cap tech firmly in bear market territory.

According to The Kobeissi Letter, the Magnificent 7 Index has dropped over 30% from its all-time high on December 18th. This significant decline places large cap tech stocks well into bear market territory. In contrast, the S&P 500 has decreased by 7.5% year-to-date, indicating that most investors are experiencing greater losses. Traders should closely monitor these large cap tech stocks as they navigate the current market downturn.

According to @KobeissiLetter, Nvidia's stock ($NVDA) has declined by 19% since February 20, showing significant volatility. The stock initially fell 4% at the market open before recovering to positive territory. This movement suggests that large cap tech stocks, including Nvidia, are becoming more affordable, which could attract traders looking for value opportunities.