Big tech’s “Magnificent Seven” took an epic nosedive, losing nearly $800 billion in market value overnight—the worst drop since April 2025. Google and Tesla led the charge, with Tesla plummeting 14% and shedding $200 billion. Despite Google’s strong cloud revenue, investors balked at its massive AI spending plans. Meanwhile, AI hardware makers like Micron and SK Hynix soared—proof that in tech’s gold rush, the real winners are the ones selling the picks and shovels. Analysts are urging investors to diversify away from speculative mega-caps and toward companies with proven earnings.
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