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US Tech Stocks See Sharp Falls
US Tech Stocks See Sharp Falls As AI Spending Nears $1 Trillion
TL;DRTech stocks crashed over AI spending concerns and uncertain returns on investments.
Why it matters: AI's trillion-dollar price tag is making investors question profitability, affecting valuations across the sector.
U.S. technology stocks plunged for a second consecutive day on Friday as investors grew increasingly concerned about the enormous cost of artificial intelligence development and whether those investments will pay off. The Nasdaq fell more than 3.5%, while Intel shares dropped as…
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