New Delhi, July 1 -- The combined market value of the Mag -7 has shrunk by roughly $2.3 trillion in June as investors question whether Big Tech's massive AI spending will deliver meaningful returns.

The Magnificent Seven includes Microsoft, Nvidia, Alphabet, Apple, Meta, Tesla, and Amazon.

CNBC Magnificent 7 Index has declined 10% last month and some major shockers include - Microsoft is down 20% in June, Nvidia has fallen around 13%. Both Apple and Amazon are down by around 8%.

"The number is real. The Mag 7 have lost something like $2.3 trillion in June and this is definitely a big drop. But, tech isn't actully falling apart. The main concern is whether the massive investments in AI (nearly $1 trillion) will start generating meaningf...