Rathbones says Democratic AI policy threats weigh on tech stocks
QQQ•Rathbones warned that Democratic threats to restrict AI development increased risks for AI-exposed equities. The semiconductor industry index fell 13% over the week, while the S&P 500 dropped 4.4% and technology stocks fell almost 7% on Thursday.
1. AI policy concerns weigh
Rathbones warned in its November 10 analysis that Democratic threats to restrict AI development increased risks for AI-exposed equities. Investors reassessed data center spending prospects as the MSCI Global semiconductor industry sub-sector index fell 13% over the week. Amazon, Alphabet and Microsoft gained for the week as investors rotated toward established hyperscalers and existing computing capacity.
