The AI complex closed September 15 2026 lower across the board ahead of the FOMC - NVDA 212.17 against 224.41 on September 2 (-5.5%), AVGO 339.27 against 367.24 (-7.6%), AMD 504.20 against 521.10 on September 9 (-3.2%), ORCL 140.35 and MU 927.60. NVDA had fallen 3.4% on September 14 alone. The sell-off came in a window of the strongest demand evidence the thesis has carried, which locates it in the cost of capital - a 5% ten-year - rather than in the capex cycle itself.