US tech megacaps tumble as AI spending fears drive sell-off; SpaceX, Alphabet hit hard
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Summary
U.S. technology megacaps experienced a significant sell-off on Monday, driven by growing investor concerns over AI spending costs. SpaceX fell over 10% for its third consecutive decline following its post-IPO rally, while Alphabet dropped 6% — on track to lose over $256 billion in market value. Amazon also faced losses. The declines reflect mounting anxiety about the high costs of artificial intelligence investments among major tech firms.
Source
bskyUS tech megacaps tumble as AI spending fears drive sell-off; SpaceX, Alphabet hit hardchannelnewsasia.comKey quotes
· 3 pulledSpaceX slid over 10 per cent after last week's blistering post-IPO rally.
Alphabet dropped 6 per cent, set for its biggest one-day fall since May 2025 and on pace to erase more than $256 billion in market capitalization.
Shares of U.S. technology megacaps tumbled on Monday as SpaceX fell for the third straight session and hyperscalers Alphabet and Amazon looked set to lose billions of dollars in market value, driven by AI spending concerns.
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