Asian stocks sank Tuesday, tracking more losses on Wall Street as investors grow increasingly worried about frothy tech valuations, with focus turned to earnings this week from AI chip titan Nvidia.

Building anxiety that this year's record rally linked to all things artificial intelligence has made some traders question whether the billions spent on the industry might not see the big returns as soon as hoped.

Compounding the downbeat mood are concerns that the Federal Reserve will decide against a third-straight interest rate cut next month, as stubborn inflation plays up against a weakening jobs market.

The rally this year has been driven by the fears of missing out on the AI bandwagon and bets on US borrowing costs coming down.

That has put two major releases this week well in the sp

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