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Why Big Tech Stocks Are Falling as Investors Question AI Returns
Big tech stocks have fallen in 2026 as investors question whether heavy AI spending will pay back quickly enough. Fortune reports the Nasdaq closed down 2.9% on October 30, 2026 [s2], and the largest tech companies are set to spend as much as $828 billion on capital expenditures this year [s2]. The open question is whether revenue from AI can keep pace.