Investors’ Deep Search For AI Meaning
Talk about a jittery market! Shares of some tech firms exposed to artificial intelligence tumbled today, prompted by new evidence that China’s DeepSeek is giving AI folks in the U.S. a run for their money. Nvidia and Broadcom each fell 17%, while Alphabet dropped 4% and Microsoft 2%.
Oh, and let’s not forget Oracle, a small player in the cloud business, whose shares fell 14%. But the tech sell-off was not as extensive as the blaring headlines might suggest. The worst-hit stocks today tended to be those that had risen too far on the thinnest of AI pretexts.
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