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● LIVE Updated 2h ago · 9 sources tracked

Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom

Tech stocks are plummeting, with the Nasdaq 100 index on course for a more than $1 trillion drop. Amazon fell 7% and Intel plunged 25% in premarket trading. The sell-off comes as investors question returns on massive AI spending, with five tech giants set to spend as much as $828 billion this year on infrastructure.

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  • ✓ Tech stocks are set to wipe out more than $1 trillion as concerns deepen about the AI boom
  • ✓ Amazon falls 7% in premarket trading
  • ✓ Intel plunges 25% in premarket trading
  • ✓ Five tech giants are set to spend as much as $828 billion this year on infrastructure
🛡️ Source Corroboration: 9 independent reporting domains (85% confidence) ⏱ Read time: ~2 min

What changed

The tech stock sell-off deepened, with Intel's 25% plunge in premarket trading being a significant development.

Live updates

  1. Tech stocks set to wipe out over $1 trillion as AI boom fears deepen

    Tech stocks are plummeting, with the Nasdaq 100 index on course for a more than $1 trillion drop. Amazon fell 7% and Intel plunged 25% in premarket trading. The sell-off comes as investors question returns on massive AI spending, with five tech giants set to spend as much as $828 billion this year on infrastructure.

    Why it matters

    The tech stock decline is driven by concerns over the massive spending required to build artificial intelligence infrastructure, despite positive earnings from some companies. This has led to a Wall Street sell-off, with the broader market holding on. The Nasdaq 100 index fell 3% in early trading.

    What is confirmed

    • Tech stocks are set to wipe out more than $1 trillion as concerns deepen about the AI boom
    • Amazon falls 7% in premarket trading
    • Intel plunges 25% in premarket trading
    • Five tech giants are set to spend as much as $828 billion this year on infrastructure
    • The Nasdaq 100 index fell 3% in early trading

    Still unconfirmed

    • The sell-off for tech stocks drags Wall Street toward its worst day since June

    What to watch next

    • The opening bell at 9:30 a.m. ET in New York
    • Further earnings reports from tech companies
    • Investor reactions to the massive AI spending spree
    Sources used for this update (9)
    1. CNBC — Amazon falls 7%, Intel plunges 25% in premarket trading, as pressure mounts after earnings
    2. CNN — Wall Street sell-off continues as investors question returns on massive AI spending
    3. The New York Times — Tech Stocks Tumble, but Broader Market Is Holding On
    4. www.nbcnews.com — Tech stocks set to wipe out $1 trillion as AI boom fears deepen
    5. NBC News — Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom
    6. Pittsburgh Post-Gazette — The sell-off for tech stocks deepens and drags Wall Street toward its worst day since June
    7. fortune.com — Fears over $828 billion AI capex spending spree help wipe $1 ...
    8. warpbeat.com — Tech stocks wipe out $1 trillion in value as concerns deepen ...
    9. www.europesays.com — Tech stocks set to wipe out $1 trillion as AI boom fears deepen
    confidence 85%
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