Intel tumbles 25% after earnings alarm sparks AI spending reckoning
Intel $INTC plunged 25% in premarket trading after Q3 results reignited concerns about the sustainability of big tech's massive AI capital expenditure. Amazon $AMZN fell 7% simultaneously, as pressure mounts on mega-cap tech names to justify stratospheric spending levels.
The selloff signals growing doubts among investors about whether AI infrastructure investment will deliver proportional returns. Market strategists warn of emerging cracks in the AI trade narrative that has dominated equities since late 2024.
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