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Chinese tech stocks sell off as doubts grow over AI profits, even as some chipmakers post surging sales

By ChordNews · First written (updated )

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Summary

Chinese tech shares have come under pressure as investors question whether AI profits can justify lofty valuations, testing a rally that had lifted the sector. Hardware makers were hit hardest: their shares tumbled even though some companies reported eye-popping quarterly results, which did not offset persistent concerns about fundamentals and weak global AI sentiment.

Later: Amazon and Intel shares fall after earnings as investors worry about AI spending · Intel's stock crashes after earnings, and AMD's shares slide too · Costs to protect US tech giants' debt against default hit record highs on profit concerns

Timeline

  1. CNBC

    Source ↗

    CNBC reports that China's tech rally is being tested as investors question whether AI profits can justify lofty valuations, and it explains what is behind the sell-off in China's tech darlings.

  2. Bloomberg

    Source ↗

    Bloomberg reports that Chinese tech hardware shares tumbled even as impressive quarterly results at some companies failed to offset persistent concerns over fundamentals and weak global AI sentiment.

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