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Story summary
- U.S. President Donald Trump has tied his agenda to expanding AI firms.
- Nasdaq tech shares slid, with semiconductor stocks plunging and SpaceX down 20 percent.
- Banks forecast AI firms will spend over $700 billion this year, while the Fed says AI added nearly one percent to growth through Q3 2025.
- Goldman Sachs warned the market is vulnerable to news that challenges AI optimism, with analyst Brock Weimer attributing the pullback to profit-taking.
