Big Tech bets everything on artificial intelligence, but its core business is slowing down
Published
Investors' patience with the large technology companies is running out. On Thursday, shares of Alphabet, Google's parent company, recorded a record drop. The company's value fell by nearly $500 billion in a single day.
In recent years, the large technology companies have invested huge sums in artificial intelligence (AI). They are building new data centres, buying specialised chips and developing new products. The companies believe that AI will be the foundation of their future. But their core business, which brings in the most money, is no longer growing as quickly as it used to.
Investors are beginning to worry. They want to know when these large investments will deliver real profit. Many of them are no longer willing to wait for long. As a result, they are selling their shares, and prices are falling.
The event is taking place in the United States, but it may also affect financial markets in other countries. Investors in Bulgaria who hold shares or investment funds with American technology companies may also feel the effects of these changes. It remains to be seen how Alphabet and the other large companies will respond to the pressure, and whether they will be able to show profit from artificial intelligence in the coming months.
Sources: bloombergtv.bg
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