Indian Entrepreneur@indianentrepreneurThe tech giants known as the Magnificent 7 wiped out more than $1 trillion in value between them on Thursday. The slide came after the US midterms and reflects worries over AI spending and rising prices.
Much of the AI buildout runs on borrowed money, so pricier credit could slow it. Tensions with Iran may keep oil expensive and push the Fed toward higher interest rates, while the midterm outcome is expected to slow data centre construction.
Investors will now split AI firms into those with existing data centre capacity and those facing legislative and borrowing hurdles.
