Bernie Sanders warns Oracle, Nvidia and other technology companies on expenditure that has wiped billions from their market value; says: Don’t come begging to taxpayers, you …

Senator Bernie Sanders has a warning for technology companies on their ballooning AI expenditure. In the last few quarters, Silicon Valley’s biggest technology companies — Microsoft, Meta, Google, Amazon, SpaceX, Oracle and Nvidia — have increased their capital expenditure by billions. Wall Street has not taken this kindly, so much so that it has wiped out billions from their stock value. According to a report in Reuters, “More than $2 trillion in market value is set to be wiped from the tech-heavy Nasdaq 100 this month, as Big Tech earnings intensified investor scrutiny of whether the billions being poured ​into artificial intelligence can generate returns quickly enough.”Hitting at rising AI debt, Senator Bernie Sanders slammed technology companies for what he called their risky AI bets. In a post on X, formerly Twitter, he told these companies not to come to taxpayers if their bet fails to deliver.