The sharp drop is the latest sign of anxiety creeping through Wall Street over how long it will take AI companies to see returns on massive investments.
They are trading at big growth multiples. So if the rate of growth slows then it gets repriced. Their assumption was double digit growth rate, which is one helluva bet.
They are trading at big growth multiples. So if the rate of growth slows then it gets repriced. Their assumption was double digit growth rate, which is one helluva bet.