AI Boom Slowdown: Tech Stocks Plummet

Major tech companies, including Nvidia and AI giants, face significant losses, with the Nasdaq Composite experiencing its biggest weekly decline since April. This downturn is attributed to growing concerns about the sustainability of high valuations and the potential mismatch between AI investments and future profits. The drop in value comes amidst a plunge in American consumer sentiment and a sharp fall in Rightmoves shares after announcing increased AI spending.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.