More than a trillion dollars have been wiped off the stock market as investors do not see how AI investments will pay off.

Over $1 trillion in market value vanished from stock exchanges as U.S. tech stocks plummeted, raising investor concerns about AI investments. The Nasdaq 100 index dropped 3.4%, marking its largest decline since mid-June, while the S&P 500 fell 1.8%. Investors are seeking clearer signs of returns on substantial AI spending by tech giants like Amazon and Google, which recently reported decreased profits alongside high AI development costs. Intel also faced a significant drop of 29% in its stock after disappointing revenue forecasts, leading to declines in other chip manufacturers like AMD and Qualcomm.