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Investor concerns about the sustainability of spending on artificial intelligence technologies have risen, leading to a significant decline in the U.S. stock market. The Nasdaq indices dropped by 1.8%, the Dow Jones by about 1%, and the S&P 500 by 1.2%. Chip stocks experienced a retreat, with substantial losses in semiconductor funds, which fell by more than 3%. Additionally, the Chinese company Moonshot AI's announcement regarding the development of an AI model that narrows the gap with American models increased pressure on the markets. Investors are now questioning how sustainable the AI spending boom is, amidst fears of a recurring cycle of boom and bust in this sector.
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