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In August, major tech firms experienced a decline in market values due to rising costs associated with artificial intelligence infrastructure and fears of a recession. Alphabet Inc saw a 4.7% drop in market value, primarily driven by a slowdown in YouTube advertising and antitrust concerns. Amazon.com Inc and Tesla also faced significant declines, with market values falling 4.5% and 7.7%, respectively, due to slowing sales and tariff concerns.
Conversely, Eli Lilly's market value surged nearly 20%, driven by strong sales and a new weight-loss drug. Berkshire Hathaway reached a market value of over $1 trillion, reflecting investor confidence in its stability. Despite the overall downturn, Nvidia's market value fell by 7.7% as it projected lower-than-expected gross margins, highlighting the volatility in the AI sector.
• Tech firms face market value declines due to AI infrastructure costs.
• Eli Lilly and Berkshire Hathaway show positive market trends amid tech downturn.
The article discusses how rising AI infrastructure costs are impacting the market values of major tech firms.
Nvidia, which dominates this market, is highlighted for its significant role in AI development and its recent market value decline.
The article mentions a U.S. judge ruling against Google for violating these laws, contributing to its market value decline.
Alphabet's market value decline was influenced by slowing advertising sales and antitrust issues.
Nvidia's recent market value drop reflects investor disappointment over its projected earnings.
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