GLOBAL AI STOCKS FALL AS INDUSTRY CHIEF CALLS FOR SLOWING DEVELOPMENT

AI-linked ​stocks plunged worldwide on Monday after leaders of the biggest artificial intelligence companies warned of risks from rapid development, the starkest threat yet to the billions of dollars ‌being poured into the industry that have driven world markets to record highs.

The selloff rippled through the industry, where companies are increasingly relying on debt and circular financing to fund ambitious AI spending plans even as global borrowing costs, reflected in multi-year-high bond yields, continue to rise.

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