AI stocks take a dive.

The Futurist calls the latest wave of the hype-cycle over for artificial intelligence, with news of AI companies losing an impressive $190 billion in stock value:

According to Deutsche Bank strategist Jim Reid, the downturn may be “signaling some overextension of the recent strong rally,” according to a note seen by Yahoo Finance.

Other analysts were far more bullish.

“This knee-jerk reaction [to tech results] is noise, the AI revolution has started,” Wedbush analyst Dan Ives told Yahoo Finance.

It’s still too early to tell if the recent drop in stock value is related to investors becoming weak on AI. Are they spooked by the daunting costs of expanding infrastructure to keep up with a surging appetite? Data centers designed to crunch data for tools like ChatGPT, which Microsoft has integrated into its software, aren’t just incredibly expensive to build — they’re also extremely pricey to run.