The AI hype cycle faces its first setback as summer doldrums drag on some of this year's biggest winners

• Even AI-related stocks haven't been immune from this month's market sell-off.
• Shares in semiconductor firms have slipped, with Nvidia set for its first monthly decline of 2023.
• Meanwhile, investors have started betting against funds tracking the AI sector.

Stocks are off to disappointing start for the month – and the theme that's taken markets by storm this year seems to be under pressure.