technology ·
Could the US midterms put a pin in the AI bubble?
That's the question which is hanging over investors, and which has prompted steep falls on the world's stock markets.
The sell-off in the US on Thursday was most dramatic on the Nasdaq, home to tech industry titans such as Alphabet, Nvidia, Meta and Apple. It followed sweeping gains by the Democrats in this week's mid-term elections in the US, which have given the party full control of Congress.
A number of leading Democrats campaigned against the unhindered expansion of data centres, which have underpinned the growth of artificial intelligence. Fears this will lead to more regulation of AI appear to have sparked fear among investors.
But concerns about the industry's prospects have been growing for some time. The release of Chat GPT by Open AI in late 2022 is widely seen as having generated massive public and corporate interest in the practical uses of AI.
