Skip to content
Bull Bear Daily

Bull Bear Daily

Primary Menu
  • Home
  • Business
  • Domestic
  • Economy
  • Money
  • Politics
  • Top News
  • Newsletters
  • Home
  • 2024
  • September
  • 2
  • Tech market values fall on AI costs and recession fears; Eli Lilly, Berkshire gain
  • Business

Tech market values fall on AI costs and recession fears; Eli Lilly, Berkshire gain

Bull Bear Daily September 2, 2024
2024-09-02T120911Z_1_LYNXMPEK810CW_RTROPTP_4_VIETNAM-GOOGLE-DATA

(Reuters) – Market values of major tech firms declined in August amid concerns over escalating artificial intelligence infrastructure costs and rising recession risks that would make the stocks particularly vulnerable during a market correction.

Last month, Alphabet Inc’s lost 4.7% of its market value as a slowdown in YouTube’s advertising sales fuelled concerns about its earnings. A U.S. judge’s ruling that Google had violated antitrust laws and the emergence of new competition from OpenAI, which is developing an AI-based search engine prototype, also contributed to its shares’ decline.

Amazon.com Inc’s market value fell 4.5%, affected by slowing online sales.

Tesla’s market capitalisation fell 7.7% last month after weaker Q2 earnings and following the news that Canada planned a new 100% tariff on Chinese-made electric vehicles.

The world’s most valuable automaker started shipping Shanghai-made EV’s to Canada last year and Ottawa’s plans raised concerns about the potential profit impact of exporting from its higher-cost U.S. production base.

Meanwhile, Nvidia’s market value fell in the last week of August by 7.7% to $2.92 trillion, after it projected third-quarter gross margins below market estimates and reported revenues that only met expectations, disappointing investors who were expecting a stronger performance.

Nvidia, which commands more than 80% of the AI chip market, stands in a unique position as both the largest enabler as well as beneficiary of surging AI development.

On a positive note, U.S. drugmaker Eli Lilly’s market value surged nearly 20%, leading market gainers, driven by robust sales and the launch of a weight-loss drug that significantly reduces the risk of developing type 2 diabetes in overweight adults.

Berkshire Hathaway’s market value closed above $1 trillion for the first time at the end of August, reflecting investor confidence in the conglomerate that Warren Buffett built over nearly six decades into what many consider a proxy for the U.S. economy.

Meta’s market value also climbed nearly 10% after it beat market expectations for its second-quarter revenues and forecast strong revenue growth in the July-September quarter, indicating that strong digital ad spending on its platforms could offset the costs of its AI investments.

(Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Editing by Tomasz Janowski)



About the Author

Bull Bear Daily

Administrator

Visit Website View All Posts

Post navigation

Previous: US FDA approves Emergent’s smallpox vaccine for people at high risk of mpox
Next: ByteDance taps banks for $9.5 billion Asia dollar corporate loan, sources say

Related Stories

2025-08-22T130058Z_1_LYNXMPEL7L0IA_RTROPTP_4_EU-RUSSIA-FERTILISER-1
  • Business
  • Economy

European farmers facing higher costs after EU tariffs on Russian fertiliser imports

Bull Bear Daily August 22, 2025
2025-08-20T121336Z_1_LYNXMPEL7J0J7_RTROPTP_4_HERTZ-RESULTS
  • Business

Hertz partners with Amazon Autos to sell used vehicles online

Bull Bear Daily August 21, 2025
2025-08-21T204642Z_1_LYNXMPEL7K0XF_RTROPTP_4_ZOOM-RESULTS-1
  • Business

Zoom Communications lifts annual forecasts on robust demand for AI tools

Bull Bear Daily August 21, 2025

Live Market Pulse

The charting technology is provided by TradingView. Learn how to use theTradingView Stock Screener.

Sign up for our free Bull Bear Daily Newsletter!

Discover new market trends and ideas directly to your inbox.

Recent Posts

  • Horse power: Renault-Geely engine unit speeds up as EV shift stutters
  • Tesla pay plan faces pushback as ISS urges vote against Musk’s $1 trillion package
  • Tesla’s cheaper Model Y faces crowded field in Europe
  • UN chief tells countries new climate targets must go ‘futher, faster’
  • Capital One $425 million settlement with depositors should be rejected, US states say

You may have missed

  • Newsletters

Horse power: Renault-Geely engine unit speeds up as EV shift stutters

Bull Bear Daily October 19, 2025
  • Newsletters

Tesla pay plan faces pushback as ISS urges vote against Musk’s $1 trillion package

Bull Bear Daily October 17, 2025
  • Newsletters

Tesla’s cheaper Model Y faces crowded field in Europe

Bull Bear Daily October 8, 2025
2025-09-24T180509Z_1_LYNXNPEL8N0W3_RTROPTP_4_UKRAINE-CRISIS-UN
  • Uncategorized

UN chief tells countries new climate targets must go ‘futher, faster’

Bull Bear Daily September 24, 2025
  • Home
  • Privacy Policy
  • Terms of Service
  • Disclaimer
  • Contact Us
  • Home
  • Privacy Policy
  • Terms of Service
  • Disclaimer
  • Contact Us
Copyright 2025 © All rights reserved | Bull Bear Daily | bullbeardaily.com