00:00It's Benzinga bringing Wall Street to Main Street.
00:02Big tech stocks shed more than $1 trillion in combined market value over the past week
00:07as investors reacted to rising concerns over artificial intelligence spending,
00:11according to CNBC. Microsoft, NVIDIA, Oracle, Meta, Amazon, and Alphabet all posted weekly
00:18share declines after earnings reports pointed to continue large-scale capital expenditures
00:23by hyperscalers. The Financial Times reported plans by big tech firms to funnel $660 billion
00:29into AI this year. Paul Markham of GM Investments said shares of companies developing AI hardware
00:35are likely to remain volatile as negative investor sentiment spreads. Investors have shifted from
00:40fearing they would fall behind in AI to questioning every aspect of the race as limited visibility
00:45outweighs confidence in long-term returns. For all things money, visit Benzinga.com.
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