A fresh selloff in technology shares is testing investors’ conviction that the artificial-intelligence boom will translate into profits. Nvidia and Alphabet declined for a second straight session, while Micron tumbled more than 13% ahead of earnings, dragging the Nasdaq more than 2% lower. The jitters follow an AI spending spree—over $580 billion last year and more than $1 trillion in the prior four years—that has yet to prove its payoff, according to Stanford’s AI Index. Weakness spread to Asia, where Samsung and SK Hynix each fell about 12%. With OpenAI and Anthropic weighing blockbuster IPOs, markets are toggling between a productivity-fueled upside and fears the AI trade is an overextended bubble.
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Artificial intelligence — Investment
