The tech giants have suffered significant losses on Wall Street in the last three weeks, with a decrease of 2.7 trillion dollars in their market capitalization. Despite the expectations of success generated by their approach to U.S. President Donald Trump, companies like Meta, Apple, Microsoft, Amazon, Alphabet, Nvidia, and Tesla are facing a drop in their market values.
Previously, these companies led the rises of the S&P 500 index and the Nasdaq tech index, capitalizing on their close relationship with Trump. However, the upward trend has reversed in recent weeks, with Tesla being the hardest hit with a 33% drop.
Trade tensions and fears of a recession have contributed to this situation, exacerbated by the competition from Chinese artificial intelligence, specifically DeepSeek. This company has achieved success with its open-source approach, posing a threat to U.S. tech firms that have invested large sums in infrastructure to develop their AI.
Despite Trump's initial promises of deregulation and favorable conditions to compete globally in artificial intelligence, companies in the sector have experienced heavy stock losses and a significant decrease in the wealth of their magnates, such as Elon Musk, Jeff Bezos, and Sergey Brin.
