US tech stocks see sharp falls over AI cost fears
US tech stocks fell sharply on Friday, October 30, as worries about the cost of the AI buildout deepened, with the Nasdaq 100 on track to lose roughly $1 trillion in market value. Intel plunged about 25-30% after weak guidance and a cash-burn warning, Amazon fell about 6% after a third-quarter miss and a $220 billion capital spending plan, and the selloff followed Alphabet's 12.6% drop on Thursday that wiped out about $500 billion. It matters because investors are increasingly questioning whether the enormous spending on AI infrastructure will earn adequate returns.
SOURCES
- Hacker News (AI)2026-10-30 16:13