Tech shares fall as AI spending worries grow
Major technology companies in the United States, including Alphabet, Amazon, and Meta, experienced a decline in their stock prices due to concerns over increased spending on artificial intelligence infrastructure and the lack of clear evidence of economic returns from these investments. SpaceX's shares dropped by over 10% after a rally following its recent IPO, amid the announcement of a new bond issuance. Meanwhile, semiconductor companies like Micron Technology saw their stocks rise by 5.8% following a new strategic partnership.
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