Shares in trucking and logistics firms plunge after AI freight tool launch

SemiCab platform by Algorhythm, previously considered a ‘penny stock’, sparks ‘category 5 paranoia’ across sector

Shares in trucking and logistics companies have plunged as the sector became the latest to be targeted by investors fearful that new artificial intelligence tools could slash demand.

A new tool launched by Algorhythm, a former maker of in-car karaoke systems turned AI company with a market capitalisation of just $6m (£4.4m), sparked a sell-off on Thursday that made the logistics industry the latest victim of AI jitters that have already rocked listed companies operating in the software and real estate sectors.

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Source: www.theguardian.com

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