The seven largest technology companies, collectively known as the Magnificent 7, had about $2.3 trillion erased from their combined market value in June as investors question their massive spending on AI infrastructure.
CNBC reports that the “Magnificent 7” group of tech titans consisting of Microsoft, Nvidia, Google, Apple, Meta, Tesla and Amazon experienced a significant decline in market capitalization during June, with the CNBC Magnificent 7 Index falling 10 percent for the month. This substantial decrease reflects growing investor apprehension about the enormous capital expenditures these companies are making in pursuit of AI…
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