Stock Sell-Off, OneStream and AI

Tech investors have recently paid more attention to glitzy generative AI startups than more traditional machine learning companies.

Cory Weinberg

Tech investors often embody the distracted boyfriend meme—the stock image where a man looks back admiringly at another woman, to the horror of his girlfriend. In that same vein, investors are always looking for the next hot thing. Companies working on earlier iterations of artificial intelligence technology, like machine learning, must have felt like the forgotten girlfriend as generative AI and all the infrastructure powering it understandably distracted investors looking for growth.

The stock market on Wednesday showed why investors might snap back a bit from leering at generative AI. The S&P 500 and Nasdaq indices had their worst-performing days in over a year and a half, according to FactSet, a dive driven by Tuesday’s mixed earnings results from Alphabet and Tesla.