PomegraBHP Stock Falls 4.7% as AI Stocks Sell Off
Why is BHP stock down today?
BHP (BHP.AX) stock fell 4.7% on Thursday as an AI stock selloff hit the copper miner, which investors use as a proxy for the AI trade.
Key numbers
| BHP daily move (one report says -4.6% to A$58.04) | -4.7%Thursday ASX session |
|---|---|
| NEXTDC | A$8.86-7.4%; -14.6% vs last Friday |
| Megaport | A$15.64-10.1% |
| Copper (per [2]) | US$6.67/lb-1.6% |
| CoreWeave (US-listed) | ~15% dropDebt-load worries |
| S&P/ASX 200 | 8,719.7-0.09% |
What happened
BHP (BHP.AX) stock fell 4.7% on Thursday as an AI stock selloff hit the copper miner, which investors use as a proxy for the AI trade. Copper is used to build the data centres that power AI, so less excitement about AI means traders expect less demand for the metal. Data-centre companies NEXTDC and Megaport dropped 7.4% and 10.1%, after US AI cloud firm CoreWeave slumped about 15%. Copper fell 1.6%, and Australia's whole mining sector lost almost 4%.
Why it matters
BHP is the world's biggest miner, so its 4.7% drop shows the AI boom reaching well beyond tech into mining and commodities. When excitement about AI cools, shares tied to data centres and to the metals they use can fall together. Hotter-than-expected US inflation of 3.7% added to the pressure on shares this week.
Who this affects
- MarketmixedMedium impact
- Miners and tech fell; banks kept the ASX 200 steady.
- CompanybearishMedium impact
- BHP shareholders lost 4.7% of value in one day.
- CompetitorsbearishMedium impact
- Rio Tinto fell similarly; Sandfire and Capstone lost 5-6%.
- IndustrybearishMedium impact
- Data-centre firms NEXTDC and Megaport fell sharply.
BHP vs Rio Tinto, NEXTDC, Megaport
| BHPBHP:ASX | -4.7% | — |
|---|---|---|
| Rio TintoRIO:ASX | -4.7% | — |
| NEXTDCNXT:ASX | -7.4% | 8.86 |
| MegaportMP1:ASX | -10.1% | 15.64 |
As of 2026-10-15
How we got here
NEXTDC closed at A$10.37 on Friday, before this week's slide.
CoreWeave slumped about 15% in US trading on debt worries, hitting AI-linked shares.
BHP fell 4.7% and ASX materials sank almost 4%, lowest since 21 July.
What to watch
- Whether AI-linked shares such as CoreWeave and NEXTDC keep falling2026-10-16
- Whether copper extends its 1.6% drop from US$6.67 per pound2026-10-16
Educational content only. Not investment advice.
More briefsAll briefs →
Walmart Stock Jumps 3.5% After Hot Inflation Report
Walmart (WMT) closed near $116 as investors sought safer stocks and the retailer expanded health benefits.
Chip Stocks Fall 4.3% as RBC Downgrades Tech Sector
Nvidia (NVDA) fell 3.2% as RBC joined Deutsche Bank in trimming tech and favoring health care.
Oil Falls 1.7% to $104 Even as Hormuz Attacks Sink Two Ships
Brent crude (BZ=F) slipped from $106.06 as the US weighs easing tanker sanctions after two cargo ships sank.