An AI slowdown that takes some air out of the exuberance could actually extend the boom, Wall Street veteran says

Stocks suffered more carnage this week as investors remain nervous about the durability of the AI boom in the wake of mixed quarterly earnings reports. Alphabet saw its cash flow sink deeper into negative territory in the third quarter, with the Google parent also joining Meta and Amazon in charging ahead with massive spending plans. On Thursday, Alphabet fell about 12%, its worst day on record. Meanwhile, Microsoft reported strong cloud growth and stayed free cash flow positive, though it said its capital spending will accelerate, while AI chip giant SK Hynix blew away earnings forecasts.

Source: Fortune Crypto