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US Tech Stocks Hit By Concerns Over Future of AI Boom
US tech stocks sold off as warnings that the hype surrounding AI could be overdone hit some of the year's best-performing shares. From a report: Nvidia, the chips group that has surged to become the world's first $4tn company on the back of AI, fell 3.5 per cent on Tuesday, while software group Pala...
US tech stocks sold off as warnings that the hype surrounding AI could be overdone hit some of the year's best-performing shares. Traders pinned some of the declines in the US on a critical report on Monday authored by a branch of the Massachusetts Institute of Technology. Researchers said "95 per cent of organisations are getting zero return" from their investments in generative AI, the technology that has sent US stocks soaring to record highs in recent months.
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