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Amazon and Intel shares fall after earnings as investors worry about AI spending

By ChordNews · First written (new coverage , updated )

Amazon and Intel post worse-than-expected results
Image: semafor.com
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Summary

Amazon shares fell 7% and Intel shares plunged 25% in premarket trading on October 30 after the companies' earnings reports, as pressure mounted on both. Investors are nervous about the massive AI spending by big technology companies and whether that spending will pay off. Semafor reports that both companies posted worse-than-expected results, as investors grow wary of the AI trade because surging debt and financing costs are outpacing revenues and pushing firms into negative cash flows.

This continues an earlier story: Chinese tech stocks sell off as doubts grow over AI profits, even as some chipmakers post surging sales

Timeline

  1. Semafor

    Source ↗

    Semafor reports that Amazon and Intel posted worse-than-expected results, as investors grow wary of the AI trade because surging debt and financing costs are outpacing revenues and pushing firms into negative cash flows.

  2. CNBC

    Source ↗

    CNBC reports that Amazon fell 7% and Intel plunged 25% in premarket trading after earnings, as investors remain nervous about the massive AI spending by tech giants and whether it will pay off.

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