**Big Tech Faces Market Cap Dip Amid AI Shifts**

Big Tech is hitting a rough patch as nearly every top 20 global tech firm saw market cap declines between July and August.

- **Intel's Struggles**: Intel led the downturn with an 18% stock drop after missing Q2 targets and announcing a 15% staff cut, impacting 15,000 employees. This move is part of Intel's pivot to generative AI.

- **Nvidia's Woes**: Nvidia, despite its dominance in AI GPU chips, saw a 2% market cap dip. The US Department of Justice is investigating Nvidia for potential antitrust violations, adding to its challenges.

- **Amazon's Slide**: Amazon's market cap fell 9.1% after Q2 revenue missed expectations. CEO Andy Jassy emphasized a shift towards AI products over profits.

Stay tuned as these tech giants navigate their AI-driven transformations.