AI spending fears wipe nearly $900bn off Big Tech
Canada backs Cohere, Foxconn ties up with OpenAI, and regulators circle Nvidia and Meta
A sell-off that erased nearly $900 billion from the market value of major technology companies, driven by renewed investor worries about the cost of artificial intelligence, was the dominant event. At the same time, a series of funding rounds, corporate tie-ups and regulatory inquiries showed the AI industry's expansion continues, with government money and antitrust scrutiny both on the rise.