An artificial intelligence bubble has burst in China, with investors losing $480 billion, according to Reuters. The STAR50 technology index has collapsed by 40% in just a few months.
At the peak of the AI hype, the sector accounted for up to 57% of stock trading volume. However, the initial influx of inexperienced investors quickly turned into massive sell-offs.
Companies currently preparing for initial public offerings are now being forced to lower their financial expectations amid cooling market interest in AI.
#Markets #Stocks
At the peak of the AI hype, the sector accounted for up to 57% of stock trading volume. However, the initial influx of inexperienced investors quickly turned into massive sell-offs.
Companies currently preparing for initial public offerings are now being forced to lower their financial expectations amid cooling market interest in AI.
#Markets #Stocks