Breaking

AI Stocks Shed Roughly $1.3 Trillion as US Tech Set to Rebound

June 24, 2026 at 03:00 EDT

Infra & Chips
Finance

A global selloff in tech stocks triggered by worries over AI valuations erased roughly $1.3 trillion from the market value of Nasdaq 100 members over two days through June 23, before US equity futures showed signs of a rebound on the morning of the 24th.

June 24, 2026 · AI Market Trade

$1.3 Trillion Wiped Out — Then Tech Stocks Try to Bounce Back

A two-day rout erased roughly $1.3T in Nasdaq 100 value as doubts over lofty AI valuations and massive capex spread. By Wednesday, dip-buyers stepped in — betting long-term AI demand is still intact.

−$1.3T

Nasdaq 100 market cap erased over two days

−3.3%

Nasdaq 100 in a single session

+0.6%

Nasdaq 100 futures rebound, June 24

The Selloff, Index by Index

Magnitude of recent moves (%), to scale

−3.3%

Nasdaq 100
(session)

−5%

Alphabet
(Google)

+0.6%

Nasdaq 100
futures

+0.2%

S&P 500
futures

■ Tuesday's drop ■ Wednesday's bounce — the rebound recovers only a fraction of what was lost.

The bull case

Long-term AI demand remains intact
Drop seen as healthy profit-taking after 70%+ YTD runs
Real revenue signals (e.g. Micron–Anthropic deal) rewarded

The bear case

Returns may not match "eye-watering" capex
Risk of circular financing among AI players
Valuations echo the dot-com era

No new product or model triggered the move — the focus is squarely on macro and sentiment around the existing AI buildout.

The selling spilled into global markets, hitting Korean chip names like Samsung and SK Hynix, leaving the near-term tug-of-war between bulls and bubble-watchers unresolved.

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