The total market value of the Nasdaq 100 Index, which has the title of a “global technology stock weather vane”, evaporated on a large scale last month by more than $2 trillion as investors re-evaluate AI-related infrastructure investments that may not be able to recoup comprehensive costs and AI-driven economic growth expectations. At a time when global technology stocks are plummeting, the latest shareholder letter to shareholders of Pershing Square Inc. (PS.US), founded by billionaire and hedge fund legend Bill Ackman, shows that Wall Street hedge funds seem to pay too much attention to rising AI computing power infrastructure construction costs and associated AI financing costs, significantly underestimating the future long-term growth potential of large technology companies that invest heavily in artificial intelligence.

The total market value of the Nasdaq 100 Index, which has the title of a “global technology stock weather vane”, evaporated on a large scale last month by more than $2 trillion as investors re-evaluate AI-related infrastructure investments that may not be able to recoup comprehensive costs and AI-driven economic growth expectations. At a time when global technology stocks are plummeting, the latest shareholder letter to shareholders of Pershing Square Inc. (PS.US), founded by billionaire and hedge fund legend Bill Ackman, shows that Wall Street hedge funds seem to pay too much attention to rising AI computing power infrastructure construction costs and associated AI financing costs, significantly underestimating the future long-term growth potential of large technology companies that invest heavily in artificial intelligence.