AI Bubble Fears: Nasdaq Loses Nearly One Trillion Dollars in a Week

Update, November 3, 2026: the headline and opening now attribute the cause of the fall to the source, as the rest of the text already did; we removed Oracle’s product announcements and the questions that repeated the article.

Fears of an AI bubble have spread across US markets: over seven days the Nasdaq shed nearly one trillion dollars in market value, that is, the total value of listed companies.¹ According to AI4Business the weight comes from investors’ doubts about the costs of AI data centers; in the same hours OpenAI cut its fundraising target from 30 to 20 billion. The link between the two is the outlet’s reading, not a confirmed explanation.¹

What happened to the Nasdaq?

The session of October 30, 2026 closed a difficult month for American tech: the Nasdaq Composite fell 2.86% and the Nasdaq 100 fell 3.46%.¹ MarketWatch describes October as a brutal month for tech stocks and notes that doubts about the sustainability of the “AI trade”, investors’ bet on the sector, are being raised by both the stock market and the bond market.² In the AI4Business summary, which draws on reports by the Guardian and Reuters, another data point appears: Apple is back ahead of Nvidia. The source does not specify the measure used for the comparison.¹

Why are investors doubting data center costs?

Big tech companies are putting hundreds of billions in AI spending on their books. Investors fear that revenues will not rise fast enough to cover chips, servers and the construction of data centers, the large computing centers that run the models.¹ Big Tech’s quarterly results show growing revenues, but with cash flows under pressure. The problem identified is therefore not a drop in sales, but the relationship between what is spent and what comes back.¹

What does OpenAI have to do with it?

OpenAI has cut its fundraising target from 30 to 20 billion. AI4Business links the downsizing to the climate of fear over the bubble.¹ The available text does not report the reasons given by the company or the details of the deal, so the link with the selloff in tech stocks remains the source’s interpretation and not an explanation confirmed by OpenAI.¹

And Oracle?

Oracle has presented a plan to raise $20 billion, and after the announcement its stock fell. It is a separate operation from OpenAI’s, even though the figure is the same.³ According to MarketWatch, Oracle is financing the growth of its AI cloud with debt and share issuance.³

What is confirmed and what is not?

The Nasdaq figures, the cut to OpenAI’s target and Oracle’s $20 billion plan appear in the sources consulted. What are interpretations, not verified facts, are the connection between the individual events and the definition of “bubble”.²¹³ The sources report investors’ doubts and do not establish whether AI’s returns will justify the spending on infrastructure. It is the question the market is debating.²¹

This article was written by artificial intelligence from the sources cited, without human review. Automatic newsroom by Redazia.

Sources

Footnotes

1. La paura della bolla AI travolge la Borsa e frena la raccolta di OpenAI, AI4Business, 2026-11-02 ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶ ↩⁷ ↩⁸ ↩⁹ ↩¹⁰

2. Tech stocks enter November after a brutal October: Is it time to buy the dip?, MarketWatch, 2026-11-02 ↩ ↩² ↩³

3. Oracle’s stock falls as the company details plan to raise $20 billion, MarketWatch, 2026-11-02 ↩ ↩² ↩³