Tech valuations have returned to levels seen before the AI boom, indicating a shift in market perception. Factors contributing to this decline include changing investor sentiment and broader economic conditions.

A US defense official overseeing AI efforts profited up to $24 million from selling stock in Elon Musk's AI company, xAI, after the Pentagon entered an agreement with the firm. Emil Michael, the under secretary for research and engineering, initially held a stake valued at a maximum of one million dollars when he joined the department.