Tech Down on AI Financing Fears -- Tech Roundup

Dow Jones03-25 05:32

Shares of technology companies fell amid fears about financing the artificial-intelligence arms race.

Meta Platforms Chief Technology Officer Andrew Bosworth was assigned to lead the company's "AI for Work" initiative, which aims to deploy AI throughout the company's operations, according to an internal memo that was viewed by The Wall Street Journal.

Investors are concerned that some data-center deals could fall apart because of pressure on private-credit markets, said one utility-sector analyst. Most "hyperscalers" have strong balance sheets and have underwritten data-center plans, said Alex Kania, energy and power analyst at brokerage BTIG.

"Some mid-tier data-center developers do potentially rely on private credit. It would be a very interesting question about what recourse the utility might have...if there is a problem with that counterparty," Kania said.

OpenAI is planning to discontinue the app for its Sora video platform, a product it released to great fanfare last year that has since fallen from public view, according to the company.

South Korean chip maker SK Hynix plans to purchase around $8 billion of extreme ultraviolet equipment from ASML, ramping up its advanced-chip production capability in response to surging demand fueled by artificial intelligence.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

March 24, 2026 17:32 ET (21:32 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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