{"id":74207,"date":"2026-11-05T11:08:27","date_gmt":"2026-11-05T15:08:27","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-rout-deepens-as-nasdaq-plunges-3-ryde-group-enters-278m-ai-infrastructure-deal\/74207\/"},"modified":"2026-11-05T11:08:27","modified_gmt":"2026-11-05T15:08:27","slug":"tech-sector-rout-deepens-as-nasdaq-plunges-3-ryde-group-enters-278m-ai-infrastructure-deal","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-rout-deepens-as-nasdaq-plunges-3-ryde-group-enters-278m-ai-infrastructure-deal\/74207\/","title":{"rendered":"Tech Sector Rout Deepens as Nasdaq Plunges 3%; Ryde Group Enters $278M AI Infrastructure Deal"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Nasdaq 100 (<a href=\"\/stock\/QQQ\">QQQ<\/a>) plummeted 3%<\/strong> and the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> (<a href=\"\/stock\/SPY\">SPY<\/a>) dropped 1.3%<\/strong> in a sharp broad-market sell-off driven by technology sector weakness.<\/li>\n<li><strong>Ryde Group (<a href=\"\/stock\/RYDE\">RYDE<\/a>)<\/strong> signed a strategic <strong>$278 million Memorandum of Understanding (MOU)<\/strong> with Dimension AI to develop a GPU-as-a-Service (GPUaaS) platform.<\/li>\n<li><strong>Visa (<a href=\"\/stock\/V\">V<\/a>)<\/strong> launched the industry&#39;s first <strong>Agentic Commerce Benchmark<\/strong>, revealing that AI shopping models <strong>fail 42.8% of the time<\/strong> in realistic consumer scenarios.<\/li>\n<li><strong>Russia issued a formal advisory<\/strong> via the Interfax (IFX) news agency, warning its citizens to <strong>avoid all travel to Iran<\/strong> amid escalating regional security concerns.<\/li>\n<\/ul>\n<h2>Markets Reel as Tech Sell-Off Accelerates<\/h2>\n<p>Wall Street experienced significant downward pressure on Thursday as the <strong>Nasdaq 100 (<a href=\"\/stock\/QQQ\">QQQ<\/a>) extended its decline to 3%<\/strong>, marking one of its steepest single-day drops in recent months. The <strong>S&amp;P 500 (<a href=\"\/stock\/SPY\">SPY<\/a>) fell 1.3%<\/strong>, reflecting a broader retreat from risk assets as investors reassessed valuations in the semiconductor and software sectors. <em>Market sentiment remains fragile as high-growth tech stocks face increased scrutiny over capital expenditure and realized returns on artificial intelligence investments.<\/em><\/p>\n<h2>Ryde Group Makes Major AI Infrastructure Pivot<\/h2>\n<p>Singapore-based <strong>Ryde Group (<a href=\"\/stock\/RYDE\">RYDE<\/a>)<\/strong> has announced a major expansion into the AI sector through a non-binding MOU with <strong>Dimension AI<\/strong>. The proposed collaboration involves a preliminary capital expenditure estimate of up to <strong>$278 million<\/strong> to build a high-performance computing platform. The project aims to provide <strong>GPU-as-a-Service (GPUaaS)<\/strong> capacity over an initial three-year period, leveraging Ryde&#39;s regional relationships and Dimension AI\u2019s technical expertise in &quot;AI factory&quot; development.<\/p>\n<h2>Visa Benchmark Highlights AI Shopping Failures<\/h2>\n<p><strong>Visa (<a href=\"\/stock\/V\">V<\/a>)<\/strong> released a groundbreaking study today titled the <strong>Visa Agentic Commerce Benchmark<\/strong>, which tested 22 different AI models across 15 shopping challenges. The results showed a significant &quot;trust gap,&quot; with AI agents successfully completing purchases only <strong>57.2% of the time<\/strong>. While models like Google\u2019s Gemini and Meta\u2019s Llama-based agents showed higher proficiency, the study found that <strong>almost half of all test runs failed<\/strong> to correctly identify consumer needs or justify purchase decisions, particularly when required to uncover &quot;hidden&quot; buying factors.<\/p>\n<h2>Geopolitical Tensions Spark Russian Travel Warning<\/h2>\n<p>In a move signaling heightened regional instability, <strong>Russia has advised its citizens to avoid travel to Iran<\/strong>. The advisory, reported by the <strong>Interfax (IFX)<\/strong> news agency, comes at a time of increased military and political friction in the Middle East. <em>Analysts suggest this warning may indicate a shift in the security assessment of the region, potentially impacting international diplomatic efforts and oil market volatility.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Nasdaq 100 (QQQ) plummeted 3% and the S&amp;P 500 (SPY) dropped 1.3% in a sharp broad-market sell-off driven 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