Story perspectives

Elice Group Shares Plunge 32% After AI Spending Doubts

By Drooid · Oct 23, 2026, 2:52 PM UTC · How we work

Summary

Story summary

Elice Group’s shares plunged 32% on debut, signaling investor doubts about AI spending.
Meta Platforms’ stock fell more than 7% after raising AI capex forecast to $135-$145 billion.
Nasdaq Composite dropped 2.6% on Thursday, its steepest fall since June as AI stocks slumped.
Gartner projects global AI investment will reach $2.7 trillion in 2026 and $3.6 trillion in 2027.

History

Historical Context

The Nasdaq Composite surged 600% from 1995 to its March 10 2000 peak of 5,048.62, inflating valuations for firms like Cisco and Amazon before a crash erased trillions. The Federal Reserve’s rate hikes then deepened the sell-off. Today’s AI-driven pullback, highlighted by Meta’s multibillion-dollar capex plan, echoes that same significant over-investment cycle.

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Story summary

Elice Group’s shares plunged 32% on debut, signaling investor doubts about AI spending.
Meta Platforms’ stock fell more than 7% after raising AI capex forecast to $135-$145 billion.
Nasdaq Composite dropped 2.6% on Thursday, its steepest fall since June as AI stocks slumped.
Gartner projects global AI investment will reach $2.7 trillion in 2026 and $3.6 trillion in 2027.

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