Tech Stocks Rocked by Global Selloff & Meta CTO Andrew Bosworth talks new in-house glasses
June 24, 2026
AI Summary
5 min readTech Stocks Tumble, AI Money Floods Politics, and Meta Goes Its Own Way on Glasses
Global markets took a hit yesterday as a selloff that began in South Korea spread to the United States, wiping billions from AI-linked stocks. The South Korean KOSPI index plunged more than 10% in minutes, triggering a trading halt as Samsung and SK Hynix—two critical AI memory suppliers—each fell more than 12%. That volatility crossed the Pacific, with the Nasdaq opening down more than 2% before clawing back some losses. By day's end, the tech-focused NASDAQ 100 finished down about 3.3%, with chipmakers like Micron, AMD, Intel, and Marvel dropping between 6% and 13%.
The selloff reflects a broader reevaluation of how much AI optimism is already baked into stock prices. Investors are growing jittery about the massive capital expenditures from tech giants like Google, Microsoft, Amazon, and Meta—collectively spending over half a trillion dollars on AI infrastructure—with no clear signal on when returns will materialize. Microsoft and Meta are both down 30% over the past year; Oracle has fallen nearly 50%. The market's concentration in AI names makes the swings particularly violent: according to Bianco Research, roughly half the S&P 500's $67 trillion market value is captured in just 41 stocks tied to the AI boom.
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What you'll learn
- 1 (00:33) **NYC Primary & AI Money's Midterm Impact** - Analysis of how AI-related super PACs spent heavily in a New York congressional primary, signaling a major force in upcoming midterms.
- 2 (00:42) **Global Tech Selloff & AI Stock Volatility** - Markets tumbled as AI stocks slid, starting with a crash in South Korea's Kospi index before spreading to the US.
- 3 (04:55) **South Korea's Leverage-Driven Retail Frenzy** - The selloff was amplified by record margin debt ($25B) and leveraged ETFs among Korean retail traders.
- 4 (06:09) **"Sell the Spender" Trade & AI Capex Jitters** - Investor skepticism grows over massive AI infrastructure spending by hyperscalers (Microsoft, Meta, Oracle).
- 5 (09:47) **AI as the Defining Political Issue** - The NYC primary is seen as an "opening salvo" for AI becoming a key ideological dividing line in future elections.
- 6 (12:15) **Meta's New In-House Smart Glasses** - Meta releases its own branded AI glasses (dropping Ray-Ban), starting at $299, with a focus on price and fashion.
- 7 (15:12) **Competition & Meta's Prediction Market Play** - Rivals (Google/Samsung, OpenAI/Jony Ive, Apple) are entering the smart glasses space. Separately, Meta is reportedly building a prediction market app (codenamed "Arena").
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Guests on this episode
Show Notes
#874: The US stock market suffered a broad sell off led by tech and AI stocks. In NYC, a political race is underway where sweeping AI regulations are at stake. Netflix launches a horror game that can be played on your TV. Finally, a special conversation with Meta’s Chief Technology Officer Andrew Bosworth to discuss the launch of the Meta’s new in-house smart glasses and why they think the specs will be an everyday AI device rather than a niche tech product.
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