Nasdaq tumbles at open as Amazon, Intel add to AI spending woes
QQQ•The Nasdaq fell 2.26% at the open to 25,592.486, its lowest level in more than two months, after Amazon’s AI spending plan and Intel’s cash burn warning heightened concerns about infrastructure costs and returns. The S&P 500 dropped 1.16%, while the Dow rose 0.08%.
1. Tech stocks fall
The Nasdaq opened at its lowest level in more than two months on Friday after Amazon’s aggressive AI spending plan and Intel’s cash burn warning intensified concerns about the costs of AI infrastructure and the timeline for returns. The Nasdaq Composite fell 592.2 points, or 2.26%, to 25,592.486.
2. Other indexes diverge
The S&P 500 fell 89.3 points, or 1.16%, to 7,631.07 at the open. The Dow Jones Industrial Average rose 41.3 points, or 0.08%, to 52,383.9.
