US tech "Magnificent Seven" stocks saw their combined market cap evaporate by nearly $800 billion in a single day, as Alphabet and Tesla earnings sparked concerns over AI spending.

Odaily Planet Daily News The US tech "Magnificent Seven" stocks collectively fell on Thursday, with their single-day market capitalization evaporating by approximately $797 billion, marking the largest single-day drop since April 2025. This decline has shrunk the total market cap by about $2 trillion from the historical highs seen in late May. Among them, Tesla fell by 15%, and Alphabet dropped by 7.1%.

Market concerns are growing over Alphabet's upward revision of its capital expenditure guidance and Tesla's plans to increase capital spending. The uncertainty regarding the return on investment for AI infrastructure is becoming a focal point for investors. Microsoft, Amazon, and Meta are set to release their earnings next week, and the market will further scrutinize whether large-scale AI investments can translate into commercial returns. (Golden Ten)