AI is supposedly going to kill us all, but at least it’s doing wonders for the stocks for a few multibillion-dollar companies.
Mounting fears over the technology’s existential risks reached a fever pitch over the weekend, tanking AI chip stocks across the globe.
This earthshattering discussion had a curious aftershock, though. Instead of double-checking their fortified bunkers, investors poured even more money into Microsoft, Google, and Meta Platforms — the biggest AI hyperscalers, or companies that operate the largest data centers — which were up by more than two percent on Monday, the Wall Street Journal reported. All remain up by a few percentage points over the past five days.
These gains may not mean much in the grand scheme of things, but they did result in the WSJ publishing what CNBC correspondent Eamon Javers called a “subhead for the ages.”
