Investors are moving away from major technology stocks due to doubts over timelines for returns on artificial intelligence investments.

Technology stocks currently make up approximately 40% of the S&P 500 index weighting. All top 10 holdings in the index are tied to artificial intelligence.

Concern that an AI investment bubble may form, and trigger sharp stock price declines, is growing among market participants.

Nvidia has fallen approximately 13% from its all-time high. Tesla has declined around 26% from its peak.

Multiple major technology companies are conducting staff reductions in parallel with their artificial intelligence adoption efforts.