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Tech had a rough day. But don’t call it a dot-com meltdown moment yet
It’s only Tuesday, but it’s already been a rough week for the tech world.
Investors were also rattled by questions about whether the tens of billions of dollars tech companies have invested in artificial intelligence will ever lead to real revenue increases, or if AI will prove to be a money sink that creates only modest efficiency gains. And then, of course, there were broader economic concerns fueled by a worse-than-expected unemployment figure and impatience for the US Federal Reserve to cut rates; in the past, recession fears have led keytech customers to pull back on spending. “Coming off a week of earnings where we heard world-class CEOs discuss not only a continuation but an acceleration in AI infrastructure spending, our experts believe investors should be inspired by this ongoing innovation cycle,” Miner told CNN in an email.
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