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Super Micro Computer’s stock fell 8% after the company reported fiscal first-quarter results that came in below expectations. The AI server maker posted adjusted earnings of 35 cents per share on revenue of $5.02 billion, missing analyst estimates of 40 cents per share and $6 billion in revenue, according to LSEG. The results raised concerns that growth in AI hardware demand may be slowing, following months of strong momentum that had pushed the stock to record highs. Investors now await the company’s next guidance for clues on future demand trends.

Michael Burry, the investor who famously predicted the US mortgage crisis, that became the trigger for the global financial crisis of 2008, has disclosed bearish positions on Nvidia Corp. and Palantir, the former being the most valued company in the world, and the latter being the most expensive stock on the S&P 500 index.

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US markets extended their losses on Tuesday, with tech stocks leading the decline after months of powering Wall Street’s record rally. The Dow Jones slipped 250 points, while the S&P 500 and Nasdaq tumbled 1.2% and 2%, respectively, the latter closing 500 points lower at its session’s bottom.

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