deVere CEO Says Investors Will Weigh AI Revenue After Big Tech Selloff

Investors will increasingly judge the Magnificent Seven by company-specific results, deVere Group CEO Nigel Green said after a broad Nov. 5 selloff renewed scrutiny of technology valuations and AI spending.

The seven stocks are Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta and Tesla. Nvidia shares fell more than 9%, erasing Nvidia’s 2026 gains. The Nov. 5 selloff had also hit the broader U.S. market.

The S&P 500 fell 4.4% that day, while the Nasdaq Composite lost 5.5% and the Dow Jones Industrial Average dropped 3.4%. The Cboe Volatility Index rose as much as 70% intraday and settled at 27.01, up 62.61%. Investors also weighed concerns that election outcomes could delay or restrict data-center construction.

Green said investors should examine which companies control their customer relationships, have secured power for data centers and are converting artificial intelligence spending into revenue. “Membership of an exclusive club won’t carry a stock anymore. Delivery will,” he said.

Green said the selloff did not mean the end of major technology companies. He expects investors to distinguish among them based on their results and ability to turn AI investment into revenue.