Tech Down on Retreat from AI Bets — Tech Roundup

Tech stocks declined as investors rotated out of AI positions. Alibaba shares dropped nearly 9% in Hong Kong following its $10.2 billion AI investment plan, while Nvidia fell ahead of upcoming earnings. Conversely, Zillow shares rose after the FTC settled antitrust claims with Redfin, allowing Redfin to re-enter rental listing advertising.

Shares of technology companies fell as traders rotated out of artificial-intelligence bets.

Alibaba shares tumbled almost 9% in Hong Kong after it unveiled plans to invest roughly $10.2 billion in AI technology.

Nvidia fell ahead of the chip maker's earnings later this week.

Zillow shares rose after the Federal Trade Commission reached a settlement with the online realtor and rival Redfin, resolving an earlier claim that the companies had worked together to reduce competition in the marketplace. Redfin must re-enter the market for rental listing advertising to resolve antitrust allegations.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

August 24, 2026 17:39 ET (21:39 GMT)