$100 Oil Puts Big Tech’s $725 Billion AI Bet at Risk

Source Summary

Crude oil prices are retreating after Brent hit $100 again last week as the United States and Iran took a break from hostilities over the weekend. Yet with the outcome of the war still highly uncertain, the outlook for stock markets has dimmed. Add to that Big Tech’s AI spending binge and fresh warnings about energy commodity shortages, and we are looking at extended market turbulence ahead. Last week saw a rare pile-up of adverse market developments that must have shaken the confidence of many a market bull. Besides the oil price spike,...