After a wobble on the tech-heavy Nasdaq, some AI market observers think a reassessment of the potential value of various businesses may be under way

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The world is holding its breath as it waits to find out whether this year’s estimated $US1tn investment in artificial intelligence is resting on a castle made of sand.

Last week, the Nasdaq 100 – an index of the 100 biggest non-financial stocks on the American tech-heavy Nasdaq exchange – dropped by 5.5%, triggering the usual angst that the AI boom is about to go bust.