By the end of July, however, most of those companies saw their stocks slide amid concern about the extent of AI-related gains and fears of a recession. Alphabet and Amazon’s share prices have fallen by about 12% since the end of June, while Microsoft’s are down around 7% over that period.
Singaporean state-owned investor Temasek Holdings Pte spent billions of dollars in the second quarter buying shares in US technology giants, just before the sector dropped in July.
Temasek increased the value of its holdings in 11 big tech firms by US$3.3 billion ($4.35 billion) in the three months ended June 30, according to an analysis of its two most recent 13F filings. The vast bulk of the increase — some US$3.2 billion — went into six of those firms: Microsoft Corp., Apple Inc., Nvidia Corp., Alphabet Inc., Meta Platforms Inc. and Amazon.com Inc.
