From The Patriot Express <[email protected]>
Subject Big Tech’s Big Move Hurts the Stock Market & Other News
Date July 27, 2024 10:01 PM
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### **The Day of Reckoning Arrives: Has the AI Bubble Burst?**

Wednesday's brutal sell-off in tech giants like Tesla and Alphabet sent shockwaves through Wall Street, wiping out a staggering $1 trillion in US equity values. This sharp reversal signals a long-overdue correction, exposing the fragile foundation beneath the frothy valuations of these so-called "hyperscaler" behemoths.

Alec Young, Chief Investment Strategist at Mapsignals, astutely observed, "Investors realize that the payoff is going to take time to materialize, and the hyperscalers' earnings are being hurt in the short-term by how much they're spending on [artificial intelligence]." It seems the market has awakened to the harsh realities of chasing moonshots while neglecting fundamental profitability.

As earnings season approaches, institutional investors demanded tangible proof of sustainable profits to validate the stratospheric multiples assigned to these darlings of Silicon Valley. Instead, what did they get? A parade of promises, prototypes, and perpetual beta testing – all masquerading as substance.

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**5 Crazy Facts:**

* 99 percent of the earth’s gold is within the core.

* There are moonquakes on the moon.

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* Laughter came before language, according to research.

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