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Tech Companies Racked Up Over $17 Billion in Losses on Equity Investments in the First Quarter

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Amazon, Uber, Alphabet and Shopify each recorded losses of over $1 billion in the first quarter from their investments in other tech companies.

The technology market's first-quarter plunge produced all sorts of red ink for tech companies that doubled as investors.

Amazon, Uber, Alphabet and Shopify each posted billion-dollar-plus losses on equity investments in the period. Qualcomm, which also recorded a markdown, said"the fair values of these investments have been and may continue to be subject to increased volatility."in the past couple weeks, with first-quarter earnings reports highlighting challenges like inflation, supply chain shortages and the war in Ukraine.

For some tech leaders, the market swoon has created a double whammy. In addition to grappling with their own operating headwinds, they were among the most active investors in other companies during the extended bull market, which hit a wall late last year.Stay informed during the severe weather season with our local news and weather

 

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