AI mega-investments set off alarms on Wall Street as Nasdaq suffers worst drop in four months
Global stock markets fell sharply on persistent unease over the outlook for artificial intelligence. The Philadelphia semiconductor index dropped 5.6%, its lowest level since July 29, and the Nasdaq-100 was headed for a loss of nearly one trillion dollars. Meta fell 4.5% after presenting a new class of non-voting shares to fund its AI expansion; Tesla slipped 2% and Amazon and Nvidia each fell more than 4%. Investors shifted focus from results to the capital needed to build AI infrastructure.
In 40 seconds
- The Philadelphia semiconductor index fell 5.6%, its lowest level since July 29, and the Nasdaq-100 was headed for a loss of nearly one trillion dollars.
- Meta fell 4.5% after presenting non-voting shares to fund its AI expansion, despite quarterly revenue above expectations.
- Tesla slipped 2% after cutting its annual capital spending forecast; Amazon and Nvidia each fell more than 4%.
Read the full story at Ambito
IASummary generated by artificial intelligence from a story by Ambito. It may contain errors: the original source prevails.
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