Naspers and Prosus unscathed in global tech sell-off
06 August 2024 - 05:00
A big sell-off of tech stocks on Monday as fears about an artificial intelligence (AI) bubble continue to swirl took down major technology players in public markets, while local giant Naspers and its stable were largely insulated.
AI investment grew exponentially in 2023, driven by the rapid adoption and popularity of OpenAI’s ChatGPT since it was launched in November 2022. Technology companies have since sought to capitalise on the trend through AI-backed services or software platforms, with others benefiting from growing hardware demand to power these systems...
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