As a result, AI stocks, from Nvidia to Oracle, fell during the trading session.
And if they rein in this spending at any point, it could be bad news for the makers of chips and related products.
Companies and individuals have started to use AI, but this trend is in its early stages, with much more to be accomplished through the application of this technology to address real-world problems.
The long-term AI picture remains bright, and this means buying quality AI stocks today could result in a big win down the road.