Tech executives play down post-midterm fears of a slowing AI build-out
Sell-off wiped more than $1 trillion from 'Magnificent Seven' stocks before they recovered some losses on Friday
Tech executives this week sought to look past concerns about a potential slowdown in the data center build-out, after a post-election rally reversed into a steep sell-off that erased more than $1 trillion in aggregate value from the 'Magnificent Seven' stocks. Leaders of Arm, OpenAI, Qualcomm, Box and Lyft sought to look past the rout, and shares recovered some ground on Friday.