{
  "id": 18482412,
  "title": "How Much Big Tech Firms That Signed Trump AI Deal Lost in Stock Market Rout",
  "url": "https://urgent.news/2026/11/06/how-much-big-tech-firms-that-signed-trump-ai-deal-lost-in-stock",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-06T10:28:10.000Z",
  "source": {
    "name": "Newsweek",
    "slug": "newsweek",
    "url": "https://www.newsweek.com/how-much-big-tech-firms-that-signed-trump-ai-deal-lost-in-stock-market-rout-12675527"
  },
  "original_language": "en",
  "account": "Several major tech companies that signed President Donald Trump's artificial intelligence pact in September suffered significant stock market losses on Thursday, as Wall Street experienced a severe sell-off following Democrats' victory in the midterm elections. The Nasdaq Composite, dominated by AI-related and other tech stocks, plummeted 5.5 percent, while the S&P 500 fell 4.4 percent and the Dow Jones Industrial Average dropped 1,883 points. Amid concerns over Democrats' possible scrutiny of AI firms and potential stalling of data center construction due to environmental and energy cost concerns, Trump attributed the market decline to the election results. \"The Stock Market crashed today because the Dumocrats had a big Tuesday — So sad to see, you only have yourselves to blame,\" Trump wrote on Truth Social on Thursday night. This came just over a month after Trump convened a group of AI company leaders at the White House to sign a voluntary agreement aimed at addressing public concerns about the technology. The deal, signed by Trump and CEOs of Anthropic, Google, Meta, OpenAI, Nvidia, and Elon Musk's AI company xAI, pledged four layers of controls and audits to ensure safe AI operation. However, not all signed companies are publicly traded. Anthropic, the creator of AI assistant Claude, did not experience a stock market dip as it is not publicly listed and plans to go public via IPO in November, though analysts doubt its success now. Alphabet, Google's parent company, lost approximately $78 billion in market value after its worst trading day since 2004, erasing gains from its summer performance. Meta Platforms dropped 3.96 percent, losing around $60 billion in market value. Nvidia, a leading AI chipmaker, suffered the most significant losses of the signing companies, with shares falling 9.3 percent, erasing more than $440 billion from the company's value. SpaceX, owned by Musk, also saw a 9.05 percent decrease, wiping out about $167 billion from its value. Musk's net worth fell below $800 billion on Thursday, making him no longer a trillionaire according to Forbes. Trump released a \"White House Accord on Super Intelligence\" on Truth Social, describing the agreement as \"morally binding\" and outlining four control and audit measures to ensure AI safety and public confidence.",
  "summary": "The companies lost billions in market value as a sell-off swept through Wall Street after Democrats' big win in the midterms.",
  "key_points": [
    "Big Tech firms lost significant stock value after Trump AI pact",
    "Nasdaq, S&P 500, and Dow Jones all declined sharply",
    "Elon Musk's net worth fell below $800 billion, ending trillionaire status"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}