BUSINESSQUARTZ
Magnificent 7 stocks have shed $2.3 trillion in June as AI spending worries mount
The Magnificent 7 stocks lost $2.3 trillion in June as investors express concerns over returns on AI infrastructure spending. The tech group has declined 10% this month due to growing impatience with delayed profitability from AI investments.
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Adjacent reporting
- Mag 7 value shrinks by $2.3 trillion amid AI spending jitters — but investors are still backing chipmakers
- Why tech stocks are getting hammered
- AI stock slump raises the question if investors are just taking profits or getting very nervous
- Indian IT stocks slump up to 7% as Accenture cuts revenue outlook, fueling fresh concerns over sector growth
- Investors may be hitting pause on the AI run-up