Asian Tech Shares Slump as AI Spending Worries Spur Safety Bid
Tech shares slumped in Asia on Friday as concerns that rising AI spending may not deliver sufficient returns drove investors toward safer assets. The yen rose and bonds surged toward their biggest monthly gain in nearly three years.
Tech shares slumped in Asia on Friday, while the yen rose and bonds surged toward their biggest monthly gain in nearly three years as investors scurried to safety against worries that huge and rising AI spending may not deliver sufficient returns.Shares in Google parent Alphabet NASDAQ:GOOG fell 12…