US tech stocks see sharp falls over AI cost fears
Shares in Intel continue to fall while the tech-heavy Nasdaq opens at its lowest level in more than two months.
Image source, Michael Nagle/Bloomberg via Getty Images By Rachel Clun Business reporter , Reporting from New York Published 9 minutes ago US stocks have continued to slide as concerns continue to intensify over the increasing costs of the artificial intelligence (AI) build out.
Shares in Intel continued their overnight slide into early trading on Friday, falling as much as 30% after the chip maker warned of a weaker computer market even as it plans to increase spending on AI.
Amazon shares fell as far as 6% before recovering after its reported earnings on Thursday evening fell short of investors' expectations.
The tech-heavy Nasdaq stock exchange opened on Friday at its lowest level in more than two months, down 2.5%, as other tech stocks including Reddit and Roblox continued to fall.
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- BBC News30 Oct, 16:46
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