US tech stocks fall sharply on AI cost concerns
AI summary
Amid intensifying concerns over AI buildout costs, US tech stocks continued to fall, with the Nasdaq opening down 2.5% on Friday, its lowest in more than two months. Intel shares fell as much as 30% after the company warned of a weakening PC market and planned to increase AI spending; Alphabet shed more than $500 billion in market value on Thursday as its AI summaries affected core search advertising revenue. Amazon shares fell as much as 6%, Reddit dropped 26%, and Roblox fell nearly 20%.
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The original article uses stock price changes following earnings reports from multiple companies to show how market concerns about AI investment costs are transmitting to tech stocks.
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