AI NEWS : STEEP BILLS PUNISH META , OTHER TECH FAVOURITES

What happened: Investors sold AI-linked stocks after Meta said it would issue a new class of non-voting shares to raise funds for AI spending. Meta fell 8 per cent and Nvidia dropped 4 per cent. Key numbers: Meta fell 8 per cent, its largest drop since July. SpaceX declined 9 per cent, Nvidia 4 per cent. Lam Research plunged 10 per cent. Why it matters: The pullback focuses on rising costs of AI spending whose payoffs remain uncertain, with Wall Street expecting higher interest rates to push firms like Meta to sell billions in stock, pressuring share prices.

Investors sold AI-linked stocks after Meta said it would issue a new class of non-voting shares to raise funds for AI spending. Meta fell 8 per cent and Nvidia dropped 4 per cent.

The pullback focuses on rising costs of AI spending whose payoffs remain uncertain, with Wall Street expecting higher interest rates to push firms like Meta to sell billions in stock, pressuring share prices.