June 22 (Reuters) – Shares of U.S. technology megacaps tumbled on Monday as SpaceX fell for the third straight session and hyperscalers Alphabet \u200cand Amazon looked set to lose billions of dollars in market value, \u200cdriven by AI spending concerns.<\/p>\n
SpaceX slid over 10% after last week’s blistering post-IPO rally. The Elon \u200bMusk-led firm said it is launching a notes offering on Monday.<\/p>\n
Alphabet dropped 6%, set for its biggest one-day fall since May 2025 and on pace to erase more than $256 billion in market capitalization. Google DeepMind’s senior research scientist and Nobel \u200claureate John Jumper said he \u2060was leaving for AI startup Anthropic, the lab’s latest high-profile exit.<\/p>\n
“This is more of a broader sector pullback on ongoing \u2060anxiety over tech companies’ massive capital spend on the AI infrastructure,” said David Wagner, head of equity and portfolio manager at Aptus Capital Advisors.<\/p>\n
Amazon.com lost 4.8%, while Meta \u200bPlatforms \u200band Microsoft eased around 3% each. The \u200bthree stocks together were set to \u200close more than $248 billion in market value.<\/p>\n
Hyperscalers have committed billions to scale up their artificial intelligence infrastructures, though clearer evidence that AI products can generate returns that justify the spends are yet to be seen, raising concerns among investors.<\/p>\n
Meanwhile, shares of most chip-related stocks were higher, with memory chipmaker Micron Technology leading \u200cthe way with a 5.8% gain to \u200bhit record highs. Micron also announced a strategic \u200bagreement with Anthropic to scale \u200bnext-generation AI infrastructure.<\/p>\n
“There’s a distinguishing aspect of this market between \u200cthose who are receiving the checks, like \u200bmemory names and \u200bthose who are writing the checks,” Aptus Capital Advisors’ Wagner said.<\/p>\n
Micron and other data storage companies SanDisk and Western Digital are the best-performing stocks \u200bon the S&P 500 \u200cso far this year, emerging as the biggest winners of Wall \u200bStreet’s hopes of robust AI-related demand.<\/p>\n
(Reporting by Shashwat Chauhan and Twesha \u200bDikshit in Bengaluru; Editing by Joyjeet Das)<\/p>\n","protected":false},"excerpt":{"rendered":"June 22 (Reuters) – Shares of U.S. technology megacaps tumbled on Monday as SpaceX fell for the third…\n","protected":false},"author":2,"featured_media":720458,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,24176,310028,181,507,82845,12112,19255,1513,74],"class_list":["post-720457","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-ai-infrastructure","tag-aptus-capital-advisors","tag-artificial-intelligence","tag-artificialintelligence","tag-billions-of-dollars","tag-market-capitalization","tag-market-value","tag-spacex","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/720457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=720457"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/720457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/720458"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=720457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=720457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=720457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}