Market professionals are growing wary of the AI trade after a week of heavy data in tech, as investors question whether returns will arrive fast enough to justify the massive infrastructure build-out. Although the S&P 500 is only a few percent below its record, helped by rotation into non-AI names such as Procter & Gamble and Berkshire Hathaway, many AI-related shares are already in or near a bear market. The Global X Artificial Intelligence & Technology ETF fell 4% this week, 8% in October, and sits 15% below its summer record, while the iShares Semiconductor ETF is down 29% from its recent high. The article says profit-taking or hedging may be worth considering, and notes that options traders are buying more downside protection; Alphabet fell more than 10% after reporting lower core advertising revenue, and Anthropic's filing gave little forward revenue information after sales slowed from Q2 to Q3.
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/29/2026 | 213.72 |
| Change that session | -0.77% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 715.33 |
| Change that session | -1.42% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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