AI enthusiasm is collapsing and tech earnings made it worse

(Bloomberg) -- The last two weeks were supposed to bring some clarity to a stock market wobbling on a series of risks, particularly doubts about heavy spending on artificial intelligence, as a series of technology giants reported their earnings. Most Read from Bloomberg Ray-Ban Heir Rejects $3.9 Billion Offer for Stake in Family Firm Binance Estimates $6.3 Billion Hacked in Crypto's Biggest Heist Stocks Slump as Wall Street Gets AI Wake-Up Call: Markets Wrap Kushner's Thrive Holdings to Buy ADT for $7.6 Billion in Cash Google Erases a Record $500 Billion as AI Eats Into Sales After seeing the numbers, the outlook is clearer. Unfortunately for Wall Street, it's also considerably darker.