Tech Titans Lose $130 Billion in One Day as AI Fears Hit Stocks

Six of the world's richest people lost a combined $130 billion on Thursday. The losses came as concerns about AI spending caused technology stocks to fall. Elon Musk, Jeff Bezos, Larry Page, Sergey Brin, Michael Dell and Mark Zuckerberg all saw their wealth drop sharply. The sell-off hit major tech companies, whose share prices fell across the board. Investors worry that heavy spending on artificial intelligence (AI) — the technology that powers tools like chatbots — may not yet be paying off. That concern pulled down stock prices and, with them, the fortunes of the billionaires who own large stakes in these companies.