Shares of US technology companies have fallen in price due to the strong excitement around AI

Shares of US technology companies have fallen in price due to excessive hype around artificial intelligence. This was reported by the Financial Times newspaper on August 20.

It is clarified that the stock fell after Sam Altman, CEO of OpenAI, said that an AI bubble would form and burst soon.

"Nvidia shares fell by 3.5%, Palantir, a software developer, shares fell by 9.4%, and Arm, a chip developer, shares fell by 5%," the material says.

The Nasdaq Composite index fell 1.4%, which was the largest one-day drop in the index since August 1.

"Traders attributed the price reduction to a report from the Massachusetts Institute of Technology, which states that 95% of organizations do not receive any return on their investments in AI," the authors of the article write.

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