By Mark Sweney
Publication Date: 2026-02-13 09:04:00
Shares of trucking and logistics companies plunged as the sector became the latest target of investors worried that new artificial intelligence tools could reduce demand.
A new tool launched by Algorhythm, a former maker of car karaoke systems turned AI company with a market capitalization of just $6 million (£4.4 million), sparked a sell-off on Thursday that made the logistics industry the latest victim of the AI unrest that has already rocked listed companies in the software and real estate industries.
The launch of Algorhythm’s SemiCab platform, which was claimed to help customers increase their freight volumes by 300% to 400% without the need to increase headcount, sparked a nearly 30% jump in the company’s stock price on Thursday.
However, the impact of the announcement caused the Russell 3000 Trucking Index – which tracks stocks in the US trucking sector – to fall 6.6% on Thursday, with CH Robinson Worldwide falling 15% by the close after falling as much as…
