Tech stocks across the globe took a nosedive today amid fears of a slowdown in AI development, all in a week where cyber-attacks and bomb threats caused significant disruption to organisations.
So what prompted trillions of dollars to be wiped off the stock value of major tech firms in the US, Europe and Asia? And what do we know of the cyber-attacks and bomb threats all received by e-mail?
On this episode of RTÉ’s Behind The Story, we talk to Charlie Taylor, Technology and Innovation Editor with the Business Post about what is behind the current slide in tech stock.
“To say investors are jittery would be the understatement of the year,” says Charlie. Big tech companies have invested heavily in AI and its infrastructure. “Investors are now asking when we are going to see the payoff for this?”
The slide in tech stock followed sweeping gains by the Democrats in this week’s mid-term elections in the US, which have given the party full control of Congress.
A number of leading Democrats campaigned against the unhindered expansion of data centres, which have underpinned the growth of artificial intelligence.
Tech tumble could hit pensions here
So could the fall have a ripple effect here, possibly affecting pensions? There is potential for this to happen, says Charlie.
“That’s part of the fear around the AI bubble. A lot of us have our pensions in that are invested in big funds all over the place, that includes companies that are involved in AI and data centres.”
RTÉ among media groups evacuated after bomb threat
RTÉ was among several media organisations around the country to be evacuated this morning following a bomb threat by email.
Our Arts and Media Correspondent Evelyn O’Rourke explains how RTÉ and other organisations received the email about 8.33am and how the incident unfolded.
Garda sniffer dogs carried out searches of the buildings.
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You can also find episodes on Apple and Spotify.
