February 6, 2026, 7:38 AM EST. Global technology and data stocks fell sharply on fears that powerful new AI models could disrupt their businesses. Investor jitters intensified after hyperscale firms announced plans to spend over $600 billion on AI rollouts this year. Amazon shares dropped 8% premarket following its hefty capital expenditure announcement. London-listed firms like RELX, Sage, and Experian also slid between 2% and 5%. The London Stock Exchange Group shares tumbled 7% this week. European tech names Capgemini and Wolters Kluwer lost 3-4%. The U.S. software and data sector has lost around $1 trillion in market value since late January. Indian software exporters plunged 2% amid a volatile week with nearly $22.5 billion lost in value. Despite strong underlying growth, big tech's ballooning spending plans have weighed heavily on markets.
