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Magnificent 7 Lose $767 Billion as AI Skeptics Dump Tech Stocks | Bloomberg Businessweek
Posted
July 23, 2026
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July 23, 2026
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The Magnificent Seven group of megacap technology stocks is on track for its biggest one-day drop since the tariff tantrum in April 2025 due to results from Alphabet Inc. and Tesla Inc. The Bloomberg Magnificent 7 Index was down 4.8% midway through Thursday’s session, wiping out roughly $767 billion in market valuation, with declines led by Tesla and Alphabet. Investors are growing cautious about the massive sums that Big Tech firms are spending to build out their AI infrastructure, with the index now down 11% from a record hit in late May, erasing $2 trillion in market value.
On this episode, Carol Massar and Tim Stenovec speak with:
Ed Ludlow, Bloomberg Tech host
Tony Hemmlegarn, President of Digital Industries Software, Siemens AND Andrew Sek Hwan Hong, HD Hyundai USA on Siemens and HD Hyundai to establish digital shipyard to modernize US shipbuilding, strengthen maritime competitiveness
Nina Trentmann and Zach Wasserman, CFO, Huntington Bancshares on earnings this AM, regional banks in current rate environment
David Kocieniewski, Bloomberg News Senior Investigative Reporter on How Tether Benefited as Trump Insiders Shaped First US Crypto Law
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Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.
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