Tech selloff: are AI spending concerns justified?

Concerns over the scale of capital expenditure on artificial intelligence by the industry’s biggest tech companies have seen trillions of dollars wiped off their combined market valuation. Between its peak on 6 October and the end of the month, the Nasdaq 100 dropped by more than 9%. Estimates put the market value of these losses at around $5 trillion.“For three years, tech giants only had to announce investment in artificial intelligence (AI) to be rewarded by the stock market,” Grégoire