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Fortune
Fortune
Beatrice Nolan

U.S. tech stocks slide after Altman warns of AI bubble and MIT study casts doubt on the hype

MIT Sam Altman Nvidia Palantir Ray Dalio Artificial Intelligence Alibaba
Sam Altman speaking into a mic. (Credit: Chip Somodevilla—Getty Images)
  • Investor enthusiasm for artificial intelligence wavered Tuesday as major tech stocks sold off. Nvidia dropped 3.5% and Palantir nearly 10% after an MIT study claimed 95% of companies see no returns from generative AI, while OpenAI’s Sam Altman warned of a potential bubble. The Nasdaq declined more than 1.2% this morning.

Investors’ long-running enthusiasm for artificial intelligence showed signs of faltering late Tuesday and early Wednesday morning as tech stocks tumbled. The tech-heavy Nasdaq declined more than 1.2% this morning.

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