AI fears hit European tech as Nexans falls despite growth - 22 October 2026

Prysmian Daily News Update · Oct 22, 2026 · 2m

As of October 22, today’s news features mounting concerns over returns on AI investments and Nexans’ share price decline despite strong quarterly sales growth. Concerns over the returns on massive investments in artificial intelligence development are weighing on European tech stocks, with the sector sub-index shedding just under 2%. In Milan, Technoprobe (-7.63%), Prysmian (-7.61%) and STMicroelectronics (-4.98%) are among the hardest hit. Meanwhile Nexans reported a robust 21.4% increase in third-quarter sales, totaling 1.70 billion euros, attributed to heightened demand for grid and…