The stock market’s euphoria toward artificial intelligence has quickly been overtaken by a bout of skepticism, triggering a steep selloff in megacap technology companies that have led this year’s rally.
The concerns center on a simple question that threatens to undermine all the hype: Who is going to provide all of the funds needed to finance the lofty ambitions of OpenAI, the privately held startup that sits at the center of an investing theme that has added hundreds of billions, if not trillions, of dollars to the equity market?