Shares of technology companies fell ahead of Nvidia's earnings report next week.

"Nvidia's going to be crucial for the wider effect for the AI-related market," said Quincy Krosby, chief global strategist at brokerage LPL Financial. Krosby said there were few echoes of the dotcom days. "There was a phrase then, the 'new paradigm,'" said Krosby.

"It's interesting that companies now are offering dividends. Back then, it would have been anathema to the new paradigm. Most of them did not make any money. You were engaged in a new era, of doing business differently. It was fascinating. But when all was said and done there were no profits. There were prophets with a 'ph'.

"It was a promise, it was a future. When it all came tumbling down, the ones that were most broken on it were the ones that were embedded in this 'new paradigm' perspective. These companies make money."

Microsoft plans a major shake-up of its videogame sales strategy by releasing the coming installment of "Call of Duty" to its subscription service instead of the longtime, lucrative approach of only selling it a la carte.

Tencent Holdings top shareholder, Prosus, and its parent company, Naspers, named Fabricio Bloisi as their new chief executive as the tech investors seek to chart a new course for the age of artificial intelligence.

Write to Rob Curran at

(END) Dow Jones Newswires

05-17-24 1752ET