TNB Tech Minute: The Tech Selloff Accelerates

Speaker 10:00

Many companies are struggling to scale their AI deployments or even move them past the pilot stage. Often the problem isn't technology, but organizational misalignment around goals, processes, and incentives. At the break, join Caroline Roach, a senior partner at IBM Consulting, to learn why.

Danny Lewis· Host0:14

[upbeat music] Here's your morning TNB Tech Minute for Tuesday, June 23rd. I'm Danny Lewis for the Wall Street Journal. The tech selloff is accelerating with the Nasdaq composite tumbling more than 2% today. That's as the artificial intelligence rally has gone into reverse amid jitters over AI companies' heavy spending and looming fed rate increases. Alphabet, Nvidia, Oracle, and Tesla all opened sharply lower following steep losses in big tech stocks yesterday. Chip maker Micron Technology slid more than 11%. President Trump is accelerating his efforts to boost the quantum computing industry with a pair of executive orders aimed at speeding the development of the advanced computers and mitigating the security risks they present. One of the orders directs federal agencies to work with the private sector and academics to deploy a quantum computer powerful enough for scientific research by 2028, while the other instructs government agencies and security experts to prepare for quantum systems that can evade standard encryption faster than previously expected. Quantum computers are capable of solving problems much faster than traditional supercomputers, making them a growing priority for countries around the world. And Oracle cut about 21,000 jobs last year as it continued to develop its AI business and invested heavily in data centers.