NEW YORK (AP) — Wall Street’s superstars are tumbling Monday as a competitor from China threatens to upend the artificial-intelligence frenzy that’s created a spending bonanza. The S&P 500 was down 1.
NEW YORK — Wall Street’s superstars are tumbling Monday as a competitor from China threatens to upend the artificial-intelligence frenzy that’s created a spending bonanza.
Skepticism, though, remains about how much DeepSeek’s announcement will ultimately shake the AI supply chain, from the chip makers making semiconductors to the utilities hoping to electrify vast data centers gobbling up computing power. It’s a sharp turnaround for the AI winners, which had soared in recent years on hopes that all the investment pouring in would remake the global economy and deliver gargantuan profits along the way.
Their immense sizes in turn have also given them huge sway over the S&P 500 and other indexes that give more weight to bigger companies. It shows the risk of betting too much on just a few winning stocks, something that market experts call “concentration risk.”
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