Trader who inspired The Big Short and now bets against AI sends tech shares lower

Shares of major technology companies have fallen over fears about the valuations of firms linked to the artificial intelligence (AI) industry. Investors have grown increasing wary about what they are calling an AI bubble this year that has seen tech stock valuations hit record highs. Major indexes in Asia were the hardest hit on Wednesday, following a sell-off in the US. Japan's Nikkei 225 closed 2.5%, dragged lower by tech investment giant, SoftBank, which plunged more than 10%. AI valuation concerns took hold in the US as well after it was revealed the trader who inspired The Big Short has bet $1.1bn (£840m) on a fall in prices for AI-related stocks Nvidia and Palantir.