Business
US tech stocks slide as investors weigh the cost of the AI buildout
October 30, 2026 at 03:28 PM · Updated 34m ago
Coverage
4 reports · 1 in Arabic, 3 in English · over 6 hours
TGThe Guardian
Tech sell-off drives US markets down by nearly $1tn after subpar earnings reports
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AJAl Jazeera Arabic
ناسداك يعمق خسائره ويتراجع بأكثر من 3% وسط انهيار أسهم التكنولوجيا
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BNBBC News
US tech stocks see sharp falls over AI cost concerns
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CNCNN
Wall Street sell-off continues as investors question returns on massive AI spending
(opens the publisher’s site)US tech shares fell sharply Friday as investors questioned whether massive AI spending will deliver expected returns, deepening a sell-off that began with Alphabet's losses Thursday.
- Intel shares fell as much as 30% on Friday after the chipmaker issued weaker fourth-quarter guidance, citing PC market weakness and manufacturing bottlenecks.
- Amazon shares fell as much as 7% after its earnings report missed expectations and signaled further increases in AI spending.
- Alphabet's market value dropped by more than $500bn on Thursday after it revealed its AI summaries were cutting into core search advertising revenue.
- The Nasdaq opened Friday at its lowest level in more than two months, down 2.5%, as tech stocks including Reddit and Roblox continued to fall.
- The Nasdaq Composite deepened its slide, closing 3.1% lower Friday as the sell-off extended through the session.
- Nvidia shares fell about 4.8% and the semiconductor sector index declined roughly 7% during Friday's trading.
- The Federal Reserve held interest rates unchanged this week, with expectations of higher borrowing costs adding pressure on tech shares.
- The sell-off erased nearly $1tn from the Nasdaq over a week and about $2tn in a month, as the S&P 500 fell more than 1%.
- Intel posted stronger-than-expected quarterly profit despite the weaker outlook that triggered its share slide.