--- title: "Concerns over AI bubble trigger a wave of sell-offs, with U.S. tech giants losing over $1 trillion in market value in a week" description: "Concerns about the capital returns from AI have triggered severe fluctuations in tech stocks, with major tech giants like Microsoft and NVIDIA losing a total market value of approximately $1.35 trilli" type: "news" locale: "en" url: "https://longbridge.com/en/news/275149589.md" published_at: "2026-02-06T16:01:15.000Z" --- # Concerns over AI bubble trigger a wave of sell-offs, with U.S. tech giants losing over $1 trillion in market value in a week > Concerns about the capital returns from AI have triggered severe fluctuations in tech stocks, with major tech giants like Microsoft and NVIDIA losing a total market value of approximately $1.35 trillion over the past week. Investors are questioning whether the annual AI investment of $660 billion by global tech companies can translate into profits, with sentiment shifting from "fear of missing out" to "efficiency scrutiny." Amazon's aggressive capital expenditure plans have heightened market doubts, while Apple's relatively cautious strategy has gained recognition Concerns about the return on capital for artificial intelligence are causing significant fluctuations in the U.S. tech sector. Over the past week, tech giants such as Microsoft, NVIDIA, Amazon, Alphabet, Meta, and Oracle have collectively lost about $1.35 trillion in market value, primarily due to **investors increasingly questioning whether the hundreds of billions of dollars in capital expenditures in this field can translate into actual profits.** On February 6th, according to FactSet data, **the aforementioned companies have all shown ongoing capital expansion plans in their recent earnings reports.** According to media reports, **global tech giants plan to invest approximately $660 billion in AI-related infrastructure this year**, a scale that surpasses the GDP of several medium-sized economies. Investors are concerned that the massive investments may hide risks of inefficient investment and overcapacity. Paul Markham, investment director at GAM Investments, pointed out that **the current market is shrouded in an "emotional contagion effect,"** especially among companies involved in AI hardware and infrastructure, where stock price volatility may continue to intensify. He emphasized: > “The massive capital expenditures required for building large language models, the eventual return cycles, and concerns about potential overcapacity have become structural issues that continuously suppress market sentiment.” Although some individual stocks saw a slight rebound in pre-market trading on Friday, Amazon still recorded a significant drop of 9% during U.S. trading hours, reflecting a shift in market judgment on the commercialization prospects of AI from optimism to caution. This sell-off, driven by anxiety over capital returns, marks a transition in the AI investment narrative from a phase of scale worship to one of efficiency evaluation. ## Amazon's Aggressive Bet on AI Cloud Infrastructure, Apple's Cautious Strategy Gains Market Recognition **Amazon has launched the most aggressive capital expenditure plan in the industry this earnings season, with funds primarily directed towards its cloud computing business, AWS.** Quilter Cheviot consumer goods analyst Mamta Valechha noted: > “The core focus of the market is Amazon's capital expenditure guidance of up to $200 billion, a 56% year-on-year increase, which not only far exceeds expectations but also ranks first among major cloud service providers.” She further stated that although management emphasizes the long-term strategic value, the lack of transparency regarding short-term return paths has raised concerns among investors. She said: > “Market sentiment is shifting from ‘fear of missing out on the AI wave’ to ‘scrutinizing the input-output efficiency of every aspect.’” Unlike other tech giants, Apple's AI capital expenditure is relatively cautious, yet it has recently gained market recognition. Additionally, thanks to the "amazing" demand for the iPhone described by CEO Tim Cook, its stock price has risen 7% since Monday. The market is undergoing a systematic reassessment of high capital expenditure models. As concerns deepen regarding the sustainability of capital and return paths in the AI sector, particularly in heavily invested areas such as hardware research and development, the stock prices of related companies are expected to continue to fluctuate and face pressure. Morningstar's Chief Equity Strategist Michael Field pointed out: > "Current investments in tech giants have become polarized, either resulting in excess returns due to AI success or causing massive capital losses due to ineffective investments." ### Related Stocks - [AMZN.US - Amazon](https://longbridge.com/en/quote/AMZN.US.md) - [AAPL.US - Apple](https://longbridge.com/en/quote/AAPL.US.md) - [NVDA.US - NVIDIA](https://longbridge.com/en/quote/NVDA.US.md) - [NVDD.US - Direxion Daily NVDA Bear 1X ETF](https://longbridge.com/en/quote/NVDD.US.md) - [AAPX.US - T-Rex 2X Long Apple Daily Target ETF](https://longbridge.com/en/quote/AAPX.US.md) - [XSW.US - SPDR S&P Software](https://longbridge.com/en/quote/XSW.US.md) - [NVD.US - GraniteShares 2x Short NVDA Daily ETF](https://longbridge.com/en/quote/NVD.US.md) - [CLOU.US - Global X Cloud Computing ETF](https://longbridge.com/en/quote/CLOU.US.md) - [SOXX.US - iShares Semiconductor ETF](https://longbridge.com/en/quote/SOXX.US.md) - [MSFU.US - Direxion Daily MSFT Bull 2X Shares](https://longbridge.com/en/quote/MSFU.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Nvidia 收入再創新高 揚言 AI 代理已達拐點 算力轉化收入 惟銷售集中惹擔憂 | 英偉達（Nvidia）第四季業績超預期，整體收入及數據中心收入創新高，CEO 黃仁勳表示 AI 算力已達拐點，預計第一財季收入約 780 億美元。儘管數據中心銷售集中引發擔憂，股價在盤後交易中一度上漲 4%，但分析師會議期間曾下跌 1.5% | [Link](https://longbridge.com/en/news/276976069.md) | | 微軟將在您從 Outlook 點擊鏈接時，自動在 Edge 瀏覽器中啓動 Copilot | 微軟將在 2026 年 5 月開始，當用户從 Outlook 點擊鏈接時，自動在其 Edge 瀏覽器中啓動 Copilot 側邊欄。此功能旨在根據電子郵件內容提供上下文洞察，從而提升用户的生產力。然而，關於數據安全和用户控制的問題引發了擔憂 | [Link](https://longbridge.com/en/news/277058499.md) | | 英偉達業績遠高預期 指引炸裂盤後橫行 | 英偉達公佈 2026 財年第四財季業績，營收 681.27 億美元，同比增長 73%，超出市場預期。數據中心業務貢獻超九成營收，非 GAAP 毛利率升至 75.2%。公司展望下一財季，營收指引為 780 億美元，環比增長 14.5%，高於分 | [Link](https://longbridge.com/en/news/276987566.md) | | Perplexity 深度整合至三星手機 一鍵啟動 AI 助手 首獲系統層級存取權限 | AI 初創企業 Perplexity 與三星 Galaxy S26 手機達成深度合作，用户可通過「Hey Plex」或長按側面按鈕啟動助手。Perplexity 應用預裝於 S26 手機，首次獲得系統層級存取權限，能讀取及寫入三星原生應用。 | [Link](https://longbridge.com/en/news/277135277.md) | | 對沖流動 - 高盛主要經紀業務報告指出，美國軟件股有望繼續反彈 | 高盛的主要經紀業務預測，儘管對沖基金在該領域持有創紀錄的空頭頭寸，但美國軟件和 IT 服務股票仍將繼續反彈。標準普爾 500 軟件和服務指數今年已下跌超過 18%，市值損失超過 1.2 萬億美元。然而，該指數本週出現反彈，上漲超過 4%。空 | [Link](https://longbridge.com/en/news/277032484.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.