Big Tech Earnings Disappoint, Triggering AI Sector Selloff
· Business · Bloomberg, Barron's
Intel and Amazon posted disappointing quarterly results that capped a brutal week for the artificial-intelligence trade. Both companies warned of slower growth ahead, spooking investors who had priced in aggressive AI-driven expansion. The Nasdaq Composite fell sharply as mega-cap tech stocks led the decline. Hackers separately stole billions of dollars in a major crypto heist, adding to market unease. The exact scale of the theft and the identity of the attackers remain unclear.
Why it matters
The selloff tests whether the AI investment boom can sustain current valuations, directly affecting global tech portfolios and Indian mutual-fund holdings exposed to US mega-caps.
Read the original report — Bloomberg
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