AI stocks continued falling Thursday as concerns mounted over the billions companies are pouring into data centers.
The AI trade, especially AI infrastructure, has shaped the US economy this year — “Rarely, if ever, has a single technology absorbed this much money this quickly,” WIRED wrote — but investors are increasingly skeptical of the high valuations of AI-linked companies.
Deutsche Bank is discussing ways to hedge its exposure to data centers, the Financial Times reported, while an OpenAI executive’s comments suggesting a possible federal “backstop” for its infrastructure commitments prompted a White House adviser to reject “AI bailouts”; OpenAI’s Sam Altman later clarified the company doesn’t want government guarantees for data centers, and “if we get it wrong, that’s on us.”
