Tech Slides as Broadcom Adds to AI Disillusionment - Tech Roundup

Dow Jones09-07

Shares of technology companies slid amid a growing disenchantment with the artificial-intelligence boom.

Broadcom shares tumbled after the maker of chips used in AI and other applications forecast revenue growth shy of some investors' expectations.

Salesforce.com agreed to buy Own Company, a data protection and data management business, for about $1.9 billion in cash, net of the value of the roughly 10% stake currently owned by Salesforce.

U.K. antitrust officials said Alphabet's Google might be stifling competition by favoring its own ad tech services that advertisers and publishers use to bid for and sell advertising space.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

September 06, 2024 17:17 ET (21:17 GMT)

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