US Stock Market See Their Worst Day Since 2022, AI & Tech Stocks Bleed | Vantage with Palki Sharma

US Stock Market See Their Worst Day Since 2022, AI & Tech Stocks Bleed

The major tech stocks listed on Wall Street closed in red on July 24 due to a major selloff. Major tech companies including Nvidia, the biggest seller of AI chips lost almost 7%, Broadcom was also down by over 7% and Super Micro Computer was down by over 9%. Further, stock prices of tech giants Apple, Microsoft, Meta and Alphabet also fell. All these tech giants have been bullish on AI and spent a significant amount of money to develop AI tools and infrastructure. Investors also rode on AI sentiment and poured in around $9 trillion over the past year. But now, the investors are pulling out as scepticism grows over the business viability of existing AI tools. Palki Sharma tells you more.
Credit to : Firstpost