The biggest antitrust regulators are stepping up their scrutiny of the nation’s most powerful developers of artificial intelligence, the latest effort by the Biden administration to rein in what it views as anticompetitive behavior.
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the middle part of the second quarter of 2024 showed a big divergence of returns.
The Department of Justice and Federal Trade Commision are reportedly launching investigations into the tech companies. The scrutiny could continue even if Donald Trump is elected again.