According to foreign media reports, the market value of many large technology companies fell in August this year due to concerns about rising artificial intelligence (AI) infrastructure costs and rising risks of economic recession.
In August, Alphabet lost 4.
7% of its market value as a slowdown in YouTube ad sales exacerbated concerns about its earnings.
Allegations that Google violated antitrust laws and new competition brought by OpenAI were also among the reasons for the decline in Alphabet’s share price.
Amazon’s market value also fell 4.
5% due to the slowdown in online sales.
Tesla’s market value fell 7.
7% last month due to weak second-quarter earnings and news that Canada plans to impose a new 100% tariff on Chinese-made electric vehicles.
Photo source: Tesla, as the world’s largest automaker by market capitalisation, Tesla has been selling electric cars produced in its Shanghai super factory in Canada since last year.
The Canadian government’s plan has raised concerns that Tesla will have to export cars to Canada in the future from higher-cost U.S. production bases, a move that may have an impact on its profits.
At the same time, Nvidia’s market value fell 7.
7% to $2.
92 trillion in the last week of August as the company expected third-quarter gross margins to fall short of market expectations and reported revenue that met only expectations, disappointing investors expecting a stronger performance.
Nvidia holds more than 80% of the artificial intelligence chip market, so the company’s position is very unique.
It is both the biggest promoter and beneficiary of the development of artificial intelligence.
On the positive side, U.S. drugmaker Eli Lilly’s market value has soared nearly 20%, leading the market growth list, mainly due to the company’s strong sales and the launch of a weight-loss drug that significantly reduces the risk of type 2 diabetes in overweight adults.
In addition, Berkshire Hathaway’s market value exceeded $1 trillion for the first time at the end of August, reflecting investors ‘confidence in the conglomerate Warren Buffett has built over the past six decades.
Many people believe that Berkshire Hathaway is a representative of the American economy.
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