Investor concerns over AI valuations have triggered a decline in tech stock prices following comments from Broadcom CEO Hock Tan, who described some AI investors as “casino gamblers”. The MSCI Asia-Pacific index fell by 2%, while South Korea’s Kospi dropped 6.2%. Major chipmakers SK Hynix and Samsung Electronics each lost approximately 8%. These declines reflect apprehensions about the profitability of massive AI investments amid rising borrowing costs and Chinese competition. Prediction markets now indicate decreased confidence in Anthropic reaching a $600 billion valuation by year-end.
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