Shares of technology companies fell as concerns about the sustainability of an artificial-intelligence boom resurfaced.
Shares of Oracle slid as traders feared an AI infrastructure spending boom would not be justified by returns.
The Roundhill Magnificent Seven exchange-traded fund, which tracks the mega-cap tech companies driving the AI boom, is now down by 2.4% for the year opening.
Tesla Chief Executive Elon Musk said the electric-vehicle maker would stop selling a suite of advanced driver-assistance features for a one-time payment, switching to a monthly subscription model.
Quantinuum, the quantum computing company majority-owned by Honeywell International, is regarded as one of the most promising candidates in the industry. Investors may get a chance to buy in soon.
Facebook owner Meta Platforms has laid off roughly 10% of staff, about 1,500 people, from its Reality Labs division, the unit that houses its virtual and augmented reality efforts, the latest sign that Facebook is pivoting from the metaverse to AI.
OpenAI has struck a multibillion-dollar agreement to buy computing capacity from startup Cerebras Systems, which is backed by Chief Executive Sam Altman, the latest in a string of chip and cloud deals signed by the ChatGPT-maker.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-14-26 1725ET
