Nasdaq Set for Drop on AI Spending Worries
Nasdaq futures are poised for sharp declines as aggressive artificial intelligence spending plans from Amazon and steep cash burn warnings from Intel rattle investors. The tech sector selloff highlights growing concerns over escalating infrastructure costs and delayed financial returns.
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The Nasdaq faced a steep drop in Friday morning trade as AMAZON.COM INC and INTEL CORP sparked investor worries over soaring AI infrastructure costs. The combined market value wiped out by the two tech giants reached $300 billion. The selloff threatens to erase $1 trillion from the Nasdaq-100 and break a two-month winning streak for the index.
