Nasdaq Hits Three-Month Low on Amazon, Intel AI Spending Worries

Business Standard · stocks

The Nasdaq index reached its lowest point in nearly three months on Friday, impacted by Amazon's substantial AI spending plans and Intel's cash burn warning. These concerns over the escalating costs of AI infrastructure and the timeline for returns led to significant drops in tech stocks. Amazon shares fell 2% following a reported sharp cash outflow and anticipated increased capital expenditure. Intel experienced its steepest one-day drop on record, sliding nearly 29% after announcing it would burn cash due to market challenges and expansion costs.