A violent rotation out of artificial intelligence stocks has ensnarled some of Australia’s top technology investors, wiping months worth of returns and prompting some funds to double down on their bets.
Scepticism about the lofty valuations of Wall Street’s tech giants and the sustainability of their aggressive spending on AI fuelled the sell-off. Those concerns intensified last week after a disappointing sales outlook by chipmaker Broadcom, and a report Oracle had delayed building data centres for ChatGPT owner OpenAI.
Loading…