Tech shares were back under pressure Friday, leading major indices lower as President Donald Trump dismissed worries about an artificial intelligence stock bubble.
鈥楴o, I love AI. I think it鈥檚 going to be very helpful,鈥� Trump said in response to an AFP reporter about whether there is an AI bubble.
鈥業t鈥檚 truly going to be the future, and we鈥檙e leading the world.鈥�
But shares of Amazon, Google-parent Alphabet and AI chip giant Nvidia were among those in the red Friday, a dynamic that weighed especially heavily on the tech-rich Nasdaq Composite Index, which was down 1.1 per聽 cent at 22,794.81 around 1900 GMT.
The Dow Jones Industrial Average dipped 0.4 percent to 46,728.74, while the broad-based S&P 500 fell 0.6 percent to 6,677.97.
Tech giants such as ChatGPT-maker OpenAI have announced multiple massive projects throughout 2025, also spurring significant building plans for new electricity generation to bolster processing capacity.聽