IBM, Oracle, NuScale Hit 52-Week Lows as AI Spending Concerns Deepen

On Thursday, IBM, Oracle, and NuScale Power stocks fell to fresh 52-week lows of $204.44, $123.66, and $7.52 respectively, as investors reassess the financial viability of heavy AI-infrastructure investments. Argus analyst Jim Kelleher cut IBM's price target to $280 from $360, citing the company's underestimation of rising component costs' impact on customer spending. Oracle shares tumbled 6% following concerns over elevated capital expenditures and a credit rating downgrade by S&P Global to BBB-, just one level above junk status.

NuScale dropped 8% as investors expressed concern about extended timelines for small modular reactor development, though Truist initiated coverage with a $10 price target and 'Hold' rating. IBM pared losses to close 3% higher despite the yearly low, while year-to-date declines stand at 26% for IBM, 36% for Oracle, and 46% for NuScale.