Global Stocks Fall Amid Tech Sector Decline

US stock futures start lower after a tech-led selloff caused by a report on generative AI investments. The majority of companies investing in generative AI have yet to see returns.

Title: US Stock Futures Start Lower After Tech-Led Selloff on Generative AI Report

US stock futures opened lower on Monday, July 2, 2025, following a tech-led selloff sparked by a report on generative AI investments. The report, titled "The GenAI Divide: State of AI in Business 2025" from the Massachusetts Institute of Technology (MIT), revealed that 95% of generative AI pilots have produced no measurable impact for enterprises, with the majority of failures attributed to a "learning gap" rather than AI quality issues [1].

The report, which surveyed 300 public enterprise AI deployments, 150 leader interviews, and 350 employee responses, underscored the challenges in scaling AI within enterprises. This finding has led to a significant selloff in AI stocks, including Palantir Technologies (PLTR) and Nvidia (NVDA), which fell by 3.6% and 1.06% respectively in midday trading on Wednesday, July 1, 2025 [1].

The report's findings also highlighted the critical role of IT services and infrastructure vendors in enabling meaningful returns on investment from generative AI adoption. This has led some analysts to see an opportunity for tech companies specializing in IT services and infrastructure, such as CoreWeave (CRWV) and Oracle (ORCL), which also saw declines in their stock prices [1].

In a separate development, OpenAI CEO Sam Altman expressed concern about an AI "bubble" and the potential for over-excitement among investors. He noted that the current phase of AI investment may be overheated, suggesting that investors should be cautious [2].

The report's impact on AI stocks has been significant, with Palantir Technologies (PLTR) falling about 20% from its all-time high of 190 on August 12, 2025, and Nvidia (NVDA) also experiencing a notable decline. However, not all AI-related stocks have been affected negatively. Metaplanet Inc., for example, recently purchased 775 Bitcoin, valued at approximately $93 million, increasing its total holdings to 18,888 BTC worth around $2 billion. This acquisition has boosted investor confidence, with Metaplanet's stock on the Tokyo Stock Exchange rising by 4% post-announcement [3].

Chamath Palihapitiya, the billionaire Bitcoiner, has also shown interest in the sector with the filing of a $250 million SPAC (Special Purpose Acquisition Company) called American Exceptionalism Acquisition Corp A, targeting a single company in the DeFi, AI, energy, or defense sectors. This move signals a shift from pure Bitcoin bets toward broader innovations that can reshape global finance and national security [4].

In conclusion, the MIT report on generative AI investments has had a significant impact on the tech sector, leading to a selloff in AI stocks. However, the report also highlights opportunities for IT services and infrastructure vendors. Meanwhile, other developments, such as Metaplanet's Bitcoin acquisition and Chamath Palihapitiya's SPAC filing, offer potential growth prospects in the tech and crypto sectors.

References:
[1] https://www.investors.com/news/technology/artificial-intelligence-stocks-ai-stocks-mit-study/
[2] https://crypto.news/ozak-ai-forecast-hits-1-as-stage-4-presale-sells-out/
[3] https://www.investors.com/news/ai-stocks-in-stealth-mode-palantir-nvidia-take-stock-market-attention/
[4] https://walletinvestor.com/magazine/palihapitiya-files-250m-spac-for-defi-ai-tech-sector