a month ago
- The Magnificent Seven tech giants lost 10% of their value in June, wiping out $2.3 trillion in market cap.
- Investors question AI hype, fearing tech valuations were unsustainable as growth expectations accelerate.
- Market rotates from hyperscalers like Microsoft to chipmakers like Nvidia; memory firms see huge gains.
- Hyperscalers plan over $1 trillion in data center capex by 2029, securing chip demand but profitability is uncertain.