The recent rally in tech stocks linked to artificial intelligence has stalled as Nvidia dropped back below a $1tn market capitalisation and C3.ai suffered a selloff in its shares due to a disappointing sales outlook. C3.ai fell over 20% in pre-market trading on 10 June, while Nvidia declined 5.7% the previous day. Analysts have cited concerns over lofty valuations, but remain optimistic that AI spending will increase in the longer term, benefiting the sector. Nvidia co-founder and CEO Jensen Huang said companies that refused to exploit the opportunities AI presents would perish. The stock is trading at 23 times estimated sales for the year.
AI stocks suffer setback as Nvidia falls below $1 trillion mark again
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