New York CNN —
It’s only Tuesday, but it’s already been a rough week for the tech world.
A tech sell-off on Monday, spurred by disappointing earnings, helped to drag down wider markets. The “Magnificent Seven” tech stocks ultimately lost $615.6 billion in value on Monday, according to data from S&P Global.
Investors were also rattled by questions about whether the tens of billions of dollars tech companies have invested in artificial intelligence will ever lead to real revenue increases, or if AI will prove to be a money sink that creates only modest efficiency gains.
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