US stocks closed lower as a pullback in large AI-focused companies weighed on the market, capping a turbulent week on Wall Street. The decline came as investors reassessed the high valuations that have driven much of the recent rally in technology shares.

Nvidia, the chipmaker at the centre of the AI boom, was in the spotlight as a scandal surrounding the company weighed on sentiment across the sector. Market commentary also flagged Anthropic and the upcoming release of GTA 6 as stories shaping investor attention this week.S1S2

Australian markets were set for a flat start to the session, following the overnight losses on Wall Street and the uncertainty around the AI-linked stocks that have led global indices higher.S2