AI has infested the world as no parasite had ever done before. Forget The Last of Us and its cordyceps: this thing somehow finds its way even into places that never had a thing to do with AI before. Printers, the agricultural sector, even your plumbing and communal upkeep services are turning into AI companies now and taking multibillion IPOs. Why? It’s a fad, a trend. And maybe it’s on its way out.
After several tech companies reported on subpar earnings, and some even on how AI seems to have ruined their revenue streams, a massive stock selloff was triggered, taking hardware producer Intel down by over 30 percent and putting it on track to go below its 1971 IPO levels. The Nasdaq-100 is down 10 percent since Oct. 6, and just about every single company related to AI took a hit, big or small.
Google (Alphabet) dropped 12.49 percent in the last five days following an earnings report that allegedly indicated AI overviews butchered its main revenue stream. It is now sitting lower than in October 2025 and is down 27 percent compared to six months ago.
Nvidia’s stock price went down almost 20 bucks, or about 10 percent, in five days, but it has since regained a bit of its lost value. AMD, its main competitor, lost 10 percent of its stock value during today alone.
Micron, one of the main producers of DRAM in the industry and an absolutely vital part of the current AI boom, also saw a reduction, with 5.5 percent of its stock wiped out on Oct. 30. SK Hynix, its brother-in-arms in RAM production, went down around eight percent. Across the board, shareholders are panicking and selling off their stock, driving stock prices down.
China’s stock market is also seeing a huge dip, also primarily involving AI-focused corporations.
Whether this is a blatant short or market manipulation meant to devalue these supergiants so big investors could buy the dip and make untold amounts of money is unknown, but I would not be surprised. The AI market is propped up by fictional cash, incredible losses, and trillions of dollars going around in circles, passed around between Nvidia, AMD, RAM producers, data center builders, and cloud computing companies like OpenAI, Anthropic, and others.
Eventually, though, the snake will eat its own tail, and that, my friends, will be a sight to behold.
