Stock market: Concern about the end of the AI boom causes tech stocks to fall

»These are not classic profit-taking. This is a real concern about a massive ‌correction. With classic profit-taking, the pace of sales would be significantly slower," commented ‌Thomas Altmann, portfolio manager at asset manager QC Partners.

The high valuations of technology stocks are increasingly viewed critically. The increased interest rates, which increase financing costs, are adding to the worries.

“Investors have no doubts about the demand for AI,” said Charu Chanana, investment strategist at Saxo Bank. "They are increasingly wondering what price they should pay for this growth when interest rates are high and may continue to rise." Stocks related to artificial intelligence (AI) led the losses on the Tokyo stock exchange: chip suppliers Advantest and Tokyo Electron fell by around 15 and eight percent. The AI-focused start-up investor SoftBank fell by ten percent.

There are also calm experts

Even the surprisingly strong results of the Taiwanese semiconductor company TSMC did not reassure investors, said Andreas Lipkow, chief analyst at broker CMC Markets. "If even good news is no longer bought but is used to exit, that is a clear warning signal for the stock markets."

Other analysts, however, were more relaxed. Mark Matthews, chief analyst at Bank Julius Baer in Singapore, said he was not worried. Stocks are not expensive, there are no signs of a recession and demand still far exceeds supply in most areas of the AI ​​sector.