In New York, shares of America’s biggest technology companies such as Microsoft, Apple, and Nvidia have fallen sharply. These companies had driven the US stock market higher because many people believed artificial intelligence, or AI, would bring huge future profits. Now, investors are worried because the profits from AI are taking longer to arrive than expected.

The main reason for the slowdown is that building and running AI systems is very expensive. Technology companies are spending billions of dollars on computer parts, large data centres, and electricity to create powerful AI products.

Because of this, many investors are moving their money from technology shares into safer industries like healthcare and utilities. This recent change has caused stock prices for big technology companies to drop, which has also pulled the wider stock market down.