Indian AI stocks and data centers slide amid valuation concerns
Business
Indian AI and data-center stocks took a hit on Tuesday, echoing a worldwide drop in tech shares.
Netweb Technologies, Orient Technologies, E2E Networks, and Anant Raj all saw their prices slip during trading.
The dip came as investors worried about the high costs and valuations of AI companies: concerns that also shook US markets.
Black Box Corporation up 3.26%
While most Indian tech stocks fell, Black Box Corporation managed to rise 3.26%, going against the trend.
Globally, big names like Amazon and Alphabet dropped sharply, with Alphabet seeing its biggest single-day loss in over a year.
Asian markets also felt the pressure, with South Korea's indices plunging more than 6% and Japan's Nikkei down 1.5%.