AI fever cools, wiping out $1.3 trillion on Nasdaq, with Tesla, Alphabet and more sinking

Quick Summary:

A growing number of market professionals argue that commercial hopes for AI are overblown.

The sell-off was triggered by a middle-of-the-road earnings report from Alphabet late on July 24 that featured a bloated capital expense.

That’s raised the stakes for earnings at an awkward time, with profit growth for the tech giants set to slow.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Tech Fever Nvidia Cools Cent Wiping Earnings Nasdaq Months Investors July

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 07:15:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 840 words

Reading Time: 5 minutes read

Sentences: 41 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 21767490

View Article Analysis

About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 20 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 1 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #25

Publisher Details

Frequently Asked Questions