Alphabet and Tesla earnings spark Magnificent Seven market selloff

Shares in the Magnificent 7 tech stocks have slumped this week amid investors’ concerns about massive spending by hyperscalers on artificial intelligence infrastructure amid uncertainty about the global economy due to the resumption of hostilities in the Iran war. The so-called Magnificent Seven tech stocks experienced their biggest one-day drop…

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OpenAI’s new release turns a bad week ugly for software stocks

OpenAI just handed software stocks a beating with its latest push into enterprise work.After the company revealed a new product on Wednesday meant to make AI agents more effective for customers, software stocks like Workday, Atlassian, and HubSpot tumbled.The product, called Presence, ramps up…