AI spending fears deepen tech selloff as Amazon falls 7% and Intel 25% in premarket trading

Fri, Oct 30 16:32 UTC+8

Amazon and Intel shares fell 7% and 25% in Friday premarket trading after disappointing September-quarter results, pulling Nasdaq futures down about 2%, CNBC reported. Amazon missed estimates, kept its $220 billion 2026 capex forecast and again posted negative free cash flow. Alphabet fell 13% on Thursday, its worst day on record. The FT says AI spending fears are deepening a global tech rout.

Why it matters

Whether huge AI capex will pay off has become the market's central question, and the slide in big tech shares could affect the pace of future AI infrastructure spending.

Sources2

CNBCMediaFri, Oct 30 16:32 UTC+8Amazon falls 7%, Intel plunges 25% in premarket trading, as pressure mounts after earningsView original · Fri, Oct 30 16:32 UTC+8
Financial TimesMediaFri, Oct 30 16:36 UTC+8Global tech rout deepens as US earnings stoke AI spending fearsView original · Fri, Oct 30 16:36 UTC+8

Written by dalao.ai: the title, summary and why it matters are our own words. The original reports are the record; their publishers keep authorship.