Big Take Podcast

From Mag 7 Slides to Software Selloffs: Has the AI Reckoning Arrived?

On today’s Big Take podcast: Why pressure is building on tech companies to prove all their AI investment will pay off — and soon.

A trader works on the floor the New York Stock Exchange in New York on Feb. 2.Photographer: Michael Nagle/Bloomberg

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By David Fox and Sarah Holder

February 4, 2026 at 5:47 PM UTC

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AI anxiety is coursing through the stock market right now. From Tuesday’s global sell-off in software and technology stocks to last week’s $381 billion Microsoft rout, investors are skittish over any sign of an AI bubble.