Global tech stocks plunge over fears of AI curbs in US
Asian markets plunged Friday, tracking a sell-off in Western stocks as investors feared Democrats’ US midterm victory could bring tighter AI regulation and greater resistance to data centre expansion. Al Jazeera’s Katrina Yu is tracking the numbers in Beijing.
Tech stocks lead US market slide as investors weigh impact of midterm election results on AI industry.
Global markets are being roiled due to concerns over US data centre expansion and AI regulation.
Concerns that Democrats in the US will push back against data center projects are weighing on an AI trade that is already on shaky footing amid growing doubts about profitability.
Nasdaq, Dow, and S&P 500 open higher after Democrats take control and Trump accepts results.
Tech barons cozied up to Trump. Democrats’ success was helped by popular anger over tech, AI and the super rich – life for billionaires could become much more difficult The photo of Silicon Valley centi-billionaires at Donald Trump’s inauguration – Musk, Bezos, and Zuckerberg, front row and side by side – now looks like a hitlist for a blue Congress hellbent on making life difficult for billionaires.
Meta has quietly introduced a way for Australians to stop the tech giant from training its AI on their user data, but the company never announced it, leaving the choice effectively hidden for more than a year.