The Tech Sell-off Goes Global

Andrew here in Cannes, France. The sunny Riviera backdrop at the Cannes Lions International Festival of Creativity contrasts sharply with the anxieties brewing in global markets. Many attendees have been glued to their iPhones, tracking the tumble in tech stock prices on Monday and Tuesday — and wondering if A.I. euphoria is taking a pause, or something more significant.

The other talker here on the Croisette: the sudden decision by Amazon, which has a big presence here, to drop “Artificial,” a nearly finished $40 million biopic about Sam Altman that was directed by the award-winning filmmaker Luca Guadagnino. Virtually nobody is willing to pick up the movie. Does that say more about the film itself, or the power of Big Tech?

A.I. jitters

Markets are sliding globally, and investors are pointing fingers at the artificial intelligence trade.

Article source: https://www.nytimes.com/2026/06/23/business/dealbook/tech-stocks-chips-spacex.html