Wall Street stocks fell sharply on Friday, with the Nasdaq 100 dropping nearly 4% and the S&P 500 falling around 2% due to disappointing tech results.
Intel suffered its largest one-day decline in over 40 years by plunging roughly 30%, while Amazon slipped 2% amid concerns over rising artificial intelligence infrastructure costs.
Major US technology firms are projected to spend about $750 billion on artificial intelligence this year, raising market questions regarding the expected returns.