According to CoinMeta, and as reported by Bloomberg, hedge funds focused on large tech companies suffered heavy losses in October due to concerns about spending on artificial intelligence (AI) that disrupted the market. The Tiger Global fund fell by 8.5%, while it has remained relatively stable since the beginning of the year. The Whale Rock fund declined by about 8%, reducing its 2026 returns to around 34%. The Vara fund, which had invested heavily in AI, saw a 33% drop, although it still managed to rise by 13% during the year.