It's been a brutal week for tech stocks, with AI-linked names tumbling across the board despite strong earnings from several industry leaders, a clear sign investors are starting to question whether the artificial intelligence boom has run too far, too fast.

By midday Friday, the Nasdaq 100, as tracked by the Invesco QQQ Trust (NASDAQ:QQQ) was down nearly 5% for the week, its worst performance since April, as risk-off sentiment swept through Wall Street.

The iShares Semiconductor ETF (NYSE:SOXX) plunged over 7%, while Cathie Wood's ARK Innovation ETF (CBOE: ARKK) tumbled more than 10%, underscoring the depth of the tech rout.

Magnificent Seven Lose $1 Trillion In Market Value

Even the so-called Magnificent Seven couldn't escape the selloff, though their losses were somewhat milder. The Roundhill Magnificent Seven ETF (NYSE:MAGS) slid 3.8% for the week, its sharpest drop since early April but still below the broader sector's 5% decline.

Just a week ago, investors were celebrating Nvidia Corp. (NASDAQ:NVDA) surpassing a $5 trillion market capitalization, lifting the combined market value of the Magnificent Seven above $22 trillion.

Fast forward to Friday, and that total has fallen to $21 trillion, erasing more than $1 trillion in market value. Nvidia alone lost over $500 billion, with shares down 8% for the week.

Name

5-Day Price Chg%

Market Cap

NVIDIA Corporation

-7.95%

$4,529.23B

Apple Inc. (NASDAQ:AAPL)

-0.99%

$ ...