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AI Boom Under Fire | Business and Finance News
Description
Big Tech’s “Magnificent Seven” just lost $2.3 trillion in market value this month as investors question the cost of their massive AI bets—hundreds of billions poured into chips and data centers, even via loans. The next big test? Q2 earnings next month, dubbed a “gut check” by analysts, as the market weighs whether this AI spending spree is worth it. Microsoft and Nvidia took the biggest hits, while Apple and Amazon dipped around 8%. Meanwhile, semiconductor stocks are soaring—up 6% this month and way ahead this year—thanks to AI-driven demand and supply shortages. Strong earnings from Micron reinforce that AI is real and growing, with analysts confident it’ll keep driving markets… as long as investors diversify.
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