Wall Street Wipes $1 Trillion From the Stock Market as Tech’s $828 Billion AI Spending Spree Sparks Market Fears
The tech-heavy index posted its biggest one-day drop since June 5 as disappointing Intel and Amazon results deepened worries about AI spending.
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Stocks close sharply lower on AI fears
NEW YORK — Stocks tumbled on Friday, with the Nasdaq suffering its largest one-day percentage drop since June 5 after disappointing quarterly results from Intel and Amazon, which amplified growing worries surrounding AI-related companies' massive spending on the nascent technology.
Wall Street closes sharply lower as AI fears spark sell-off
NEW YORK — Stocks tumbled on Friday, with the Nasdaq suffering its largest one-day percentage drop since June 5 after disappointing quarterly results from Intel and Amazon, which amplified growing worries surrounding AI-related companies' massive spending on the nascent technology.
Wall Street wipes $1 trillion from the stock market as tech’s $828 billion AI spending spree sparks market fears
The richest companies in the history of the world are spending so much on the infrastructure backing AI that they’re burning through billions in cash and threatening a recent AI-fueled stock surge as Wall Street wavers. The latest financial disclosures by four of the biggest hyperscalers, Amazon,…
AI-related companies are falling on the stock market on Friday. The Nasdaq is down nearly 3 percent. Wall Street is concerned that the AI sector's prices have become too high, reports AP.
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