A company that until last summer was in the karaoke business dealt trucking and transport stocks one of their worst days ever.

The Florida firm, formerly The Singing Machine Co. and now known as Algorhythm Holdings, published a news release shortly before trading opened touting AI technology for improving trucking efficiencies. Algorhythm, which has a stock market value of less than $3 million, hasn’t landed any software clients in the U.S. yet, the WSJ’s Ryan Dezember and Paul Berger write. But its announcement nonetheless rattled the market.

By midday, major logistic firms were down more than 20% in some cases. They recovered some as traders and analysts zeroed in on the source of the panic. Yet billions of dollars in market value had been wiped out by the closing bell. The selloff is one of the most extreme examples yet of the sell-now, ask-later ethos sweeping markets in the AI era.

Algorhythm said in its release that the AI technology of its SemiCab unit can greatly reduce empty freight volumes, which occur after a truck delivers its cargo and moves on to its next location empty.

Until recently, the company’s business was selling karaoke machines, according to securities filings.

Note to Readers: The WSJ Logistics Report won't be published Monday in observance of Presidents Day in the U.S. We will be back Tuesday.

Fedex said it was targeting growth in high-margin businesses such as healthcare, automotive, aerospace and premium e-commerce, as it guided for higher annual revenue of $98 billion in fiscal 2029.

The shipping company said in a news release that it expects to report fiscal third-quarter earnings ahead of Wall Street estimates thanks to an exceptional holiday peak season. The two petabytes of data it processes daily on top of its physical network would allow it to expand its digital systems, AI and automation efforts.

After joining Advent International and other partners in an acquisition of Polish parcel-locker provider InPost this week, Fedex said Europe remains its biggest long-term opportunity for value creation. The company also said its spinoff of Fedex Freight was on track for June 1.

The global buildout of fleets of memory-gobbling AI data centers is drying up chip supplies for consumer electronics makers, leaving them stuck with a list of unpalatable responses, the WSJ’s Jiyoung Sohn writes.

The supply-chain disruption is forcing makers of smartphones, PCs, gaming consoles and other gadgets to charge customers more, eat the costs from a historic memory-price surge or rejigger product specs. Dell Technologies has raised prices by as much as 30%. Rival Acer’s budget PCs carry less multitasking memory. Pricier memory has dimmed LG Electronics’ TV sales outlook.

There has been a roughly sevenfold increase in contract prices for DRAM and NAND flash in the past 12 months, according to tracking data from TrendForce. This could be just the beginning. The biggest tech-hardware giants, such as Apple, Nintendo and Samsung Electronics, can bulk-buy ahead of price hikes. But stockpiles only last so long.

• Samsung Electronics has begun shipments of the most advanced high-bandwidth memory products, known as HBM4, which are critical for AI chips. (WSJ)

• U.S. jobless claims fell to 227,000 in the week through Feb. 7, down from 232,000 a week earlier, the Labor Department said. (WSJ)
• The Trump administration repealed the scientific finding that serves as the legal basis for federal greenhouse-gas regulation, in the most far-reaching rollback of U.S. climate policy to date. (WSJ)
• Two people reported minor injuries when a U.S. warship and a Navy supply vessel assigned in the Caribbean collided during a ship-to-ship refueling. (WSJ)
• Sales of EVs and hybrids in China fell by 20% in January to 596,000 units, the first year-on-year decline in nearly two years. (WSJ)
• Italian shipbuilder Fincantieri expects sales to roughly double to over $21 billion by 2035 as demand for submarines, warships and icebreakers grows. (WSJ)
• Hong Kong’s CK Hutchison warned A.P. Moller-Maersk of possible legal action if the Danish carrier’s APM Terminals unit takes over operations at two ports on the Panama Canal. (Bloomberg)
• China Merchants Group plans to restart the idled Wuhan Qingshan Shipyard this year amid a demand surge driving the reactivation of yards across China. (Lloyd’s List)
• GXO plans to focus on organic growth following a period of expansion through M&A, with acquisitions restricted to North America and selected verticals, CEO Patrick Kelleher said. (The Loadstar)
• A facility to disperse sterile screwworm flies opened this week in Texas to help prevent the flesh-eating parasite they spawn from crossing the Mexican border to infect U.S. cattle. (Associated Press)
• Forty-seven percent of carriers plan to delay investments in their fleets because of cost pressures from tariffs, according to Breakthrough’s State of Transportation report. (SupplyChain24/7)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.