Asian shares have skidded, with Tokyo’s Nikkei 225 down 5% as heavy selling of computer chipmakers and other AI-related shares drag markets lower #
- Bookmark
Stocks related to artificial intelligence have been under pressure for weeks because of worries that their prices have shot too high and that voracious demand for computer memory and processors may not be sustainable if AI ends up not producing as much profit and productivity as promised.
On Thursday, the S&P 500 fell 0.5% even though more stocks rose within the index than fell. The Dow Jones Industrial Average dipped 0.2%, and the Nasdaq composite lost 1.5%. Wall Street mostly rose after more U.S. companies reported better earnings for the latest quarter than analysts expected.
source & further reading
independent.co.uk — original article
Instagram to send messages to parents if their children are having distressing conversations with its AI
China cracks down on AI girlfriends, leaving users heartbroken
EU forces Google to share search data and open Android to rival AI companies