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AI sell-off intensifies as investors ditch chip stocks

The Guardian — Tech · · International · AI Governance

Samsung and SK Hynix fall by more than 10% amid renewed fears over AI spending and Chinese competition Business live – latest updates The sell-off in AI stocks has intensified, driving South Korea’s stock market down to its lowest level in three months. Investors continued to ditch chip stocks on Tuesday, amid rising concerns about the huge amount of borrowing among AI companies to fund their datacentre expansion plans. Continue reading...

Who should care: General readers · AI governance · Policy

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The Guardian — Tech · · International

Apple becomes second $5tn company as investors flee AI stocks

Share price rally driven by strong product demand as well as decision to sit out AI spending race, amid wider tech sell-off Apple has become only the second company to pass the $5tn valuation mark, as it benefited from investors fleeing AI and semiconductor stocks amid a wider tech sell-off. The iPhone maker’s shares hit a session high ⁠of $342.89 on Tuesday, giving it a market ⁠capitalisation of $5.04tn (£3.78tn), then eased back down to $340.08 – around the $5tn mark. Continue reading...

Who should care: General readers · AI governance · Policy

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