Dogecoin and HYPE lead weekly crypto losses as AI stocks draw buyers

Cryptocurrencies fell across the board last week while AI-related stocks surged, pushing the equal-weight S&P 500 to a record high. Ether dropped 8% on the week, and memecoins including Dogecoin and Hyperliquid's HYPE fell even harder. Investors rotated out of chipmakers and crypto into AI equities.