FinanceWall Street Journalabout 2 hours ago
U.S. Tech Stocks Drop on AI Spending Concerns
4 min read
U.S. tech stocks plunged Friday, erasing more than $1 trillion in value as investors questioned AI spending returns. The Nasdaq 100 fell 3.4%, its worst drop since mid-June, while Intel plunged 29%. Amazon CEO Andy Jassy expects 2026 capital expenditures of approximately $220 billion, the majority for AWS, and to spend meaningfully more in 2027.
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