What’s fueling Wall Street’s growing concerns about AI?

Résumé détaillé

A sharp sell-off has put a spotlight on the risks facing the AI boom, from heavy spending and borrowing to power constraints and political uncertainty.

BEP Research founder Ben Pouladian analyzes the technology stock sell-off and concerns surrounding artificial intelligence infrastructure on ‘Making Money.’

U.S. stocks plunged Thursday as investors dumped AI stocks, but market experts say Wall Street's concerns go beyond a single bad day.

The Dow Jones Industrial Average fell 1,833 points, or 3.44%, while the Nasdaq Composite plunged 5.52% in its worst session since April 2025. The Nasdaq also closed in correction territory, at least 10% below its Oct. 6 record closing high.

Behind the rout are growing concerns about the massive spending and borrowing fueling the AI boom and whether those investments will pay off.

"Debt," Paul Mueller, an economist with the American Institute for Economic Research, said when asked what Wall Street is most worried about when it comes to AI.

"Wall Street is worried about the enormous amounts of debt obligations being issued by tech companies to build data centers, both because interest rates have been rising and because there is greater political uncertainty around how much opposition data center construction will face," Mueller told FOX Business.

A view of the New York Stock Exchange and surroundings in New York City Nov. 5, 2026. U.S. stocks remained volatile after the midterm elections. (Selcuk Acar/Anadolu via Getty Images)

The concerns come as tech giants pour billions into the infrastructure powering the AI boom.

Adam Patti, CEO of VistaShares, said investors are confronting three concerns at once, which are political uncertainty, return on investment and an increasingly crowded AI trade.

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