MAGA allies are making huge bets on AI amid new signs that a tech “bubble” could rattle the economy. MS NOW’s Ari Melber reports and is joined by Facebook co-founder Chris Hughes and journalist Ed Zitron. (The Beat's YouTube: https://ms.now/ari)
SACRAMENTO, CA — Californians struggling to afford the cost of living in the state were hit hard once again, as it was revealed that the average price of a new home in California had now hit $1 quadrillion.
Investors are selling off AI-related stocks as doubts are starting to surface over whether the massive spending on AI is worth the investment or whether "it's one big bubble."
Tech stocks shriveled up Tuesday as fears about an AI bubble sapped market momentum. Why it matters: Chatter about a bubble has been prominent in recent months but hasn't yet delivered a long-lasting blow to stocks. Driving the news: The tech-heavy Nasdaq Composite Index fell 2.5% shortly after the opening bell. - The broad S&P 500 index was down roughly 1%. Zoom in: It's a particularly ugly day for chip memory and data storage stocks. - They suffered some of the worst declines early, after a 10% overnight drop in South Korea's KOSPI index, which is dominated by memory chip makers Samsung Electronics and SK Hynix. - In the U.S., memory chip maker Micron dove more than 10% in early trading, storage device maker Sandisk plunged more than…
In my memory, the stories of three financial bubbles have left their mark on the annals of finance as well as the culture at large; I posit there is now a fourth.
Tech leaders are beginning to worry about the public’s underwhelming enthusiasm for their plans to remake the world with artificial intelligence. Will that burst the bubble?