AIReutersabout 4 hours ago
AI Spending Fears Trigger Tech Stock Slump
2 min read
Tech shares slumped in Asia on Friday as investors fled to bonds fearing AI spending may not deliver returns. Alphabet shares fell 12.6%, wiping out $500 billion in value, while Intel shares plunged 23%. The drop followed a record-breaking hack at Binance and a Federal Reserve decision to hold US interest rates.
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