Mag 7 value shrinks by $2.3 trillion amid AI spending jitters — but investors ar

Around $2.3 trillion has been wiped off the value of the Magnificent 7 this month as the tech giant's huge infrastructure spending is increasingly scrutinized by investors, who see stronger returns in other parts of the market.

The Mag 7 comprises Microsoft, Nvidia, Alphabet, Apple, Meta, Tesla and Amazon. The CNBC Magnificent 7 Index has fallen 10% so far in June.

These companies, in particular Amazon, Microsoft, Alphabet and Meta, are collectively spending hundreds of billions of dollars buying chips and building data centers to power their artificial intelligence services. Some of this investment is being fueled by debt.

Investors are waiting to see a return on those investments, with all eyes on the second quarter earnings season, which kicks off next month.

"We are going through another 'gut check' few weeks ahead for the tech trade as tech investors await a very important 2Q earnings season in July to further validate the AI Revolution buildout," Dan Ives, managing director at Wedbush Securities, said in a note on Sunday.

"In the meantime, jitters will continue as worries around the costs of this once-in-a-generation tech buildout hit its next gear of growth."

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Fuente original: CNBC Top News (https://www.cnbc.com/2026/06/30/magnificent-7-stocks-sell-off-investors-grow-jittery-on-ai-spending.html)