economy
Magnificent Seven stocks shed $2.2tn in Wall Street tech rotation
Investors switch to soaring chipmakers benefiting from hyperscalers’ vast AI spending
TL;DR
- Investors are shifting away from the Magnificent Seven stocks.
- The Magnificent Seven have seen a $2.2 trillion decrease in value.
- There is a rotation into chipmaker stocks.
- Chipmakers are benefiting from hyperscalers' AI spending.
- Hyperscalers are making vast investments in AI.