Big Tech Earnings Slam Into a Market in Revolt Over AI Spending

For years, US technology giants had a tacit agreement with investors: The companies could spend lavishly on artificial intelligence, and the stock market would reward them long as their revenues...

By Jeran Wittenstein and Ryan Vlastelica · Bloomberg Markets

For years, US technology giants had a tacit agreement with investors: The companies could spend lavishly on artificial intelligence, and the stock market would reward them long as their revenues were rising. That deal is suddenly breaking down.