But shaking off those fears has proven increasingly difficult as the tech stock market reels from a major selloff this week. Other tech companies, including AI chipmaker Nvidia, Oracle, Alphabet, and Meta, all saw their shares drop significantly this week as they indicated they remained committed to spending vast sums to scale up their AI infrastructure investments. But it doesn’t take much reading between the lines to figure out that investors are becoming incredibly antsy about those enormous spending plans. “We have suddenly gone from the fear that you cannot be last, to investors questioning every single angle in this AI race,” Quilter Cheviot consumer discretionary analyst Mamta Valechha. “The market is rethinking its approach to AI,” M&G chief investment officer for equities Fabiana Fedeli told the FT, arguing that investors are “a lot more selective in which companies [they] will decide to bet on.”More on the tech selloff: Investors Dumping American Stocks as the Country Bets Everything on AI