The Newshound

Wall Street suffered its worst day since June as Intel plunged nearly 30% amid fears over Big Tech's AI spending

A two-week Alphabet share-price chart, sourced from Yahoo Finance, showing the plunge that wiped $500 billion from the company's value after profit collapsed 25% to $26.2 billion.
A two-week Alphabet share-price chart, sourced from Yahoo Finance, showing the plunge that wiped $500 billion from the company's value after profit collapsed 25% to $26.2 billion.

Amazon and Intel jointly wiped nearly $200bn from their combined stock market worth on Friday after both companies posted negative free cash flow and warned of still-heavier capital expenditure to come.

S&P Global revised its outlook on Meta to 'negative', forecasting free cash flow deficits of $39bn in 2026 and $71bn in 2027, with debt potentially funding shortfalls beyond 2028.

Microsoft was the sole bright spot, delivering $18.6bn in free cash flow — around $10bn ahead of analyst expectations — alongside 48% expansion in Azure cloud revenues.

MoreReutersS&P Global revises Meta's outlook to 'negative' on AI spending, cash flow worriesNYTBig Tech’s Data Center Blitz Is Burning Through Cash and Scaring Wall St.ReutersOctober ends with a thud for Intel, Reddit, AI stalwartsNYTTech Stocks See Worst Day Since June, Pressuring Broader MarketUPIWall Street tumbles as tech stocks suffer sharp lossesIrish IndependentIntel leads slump in share prices as investors worry about AI cash burnIrish TimesMicrosoft’s cloud growth, cash flow offer respite from AI spending fearsIrish TimesAlphabet shares tumble in $500bn routIrish TimesIntel shares fall 22% as weak sales outlook dents turnaroundReutersIntel on course for worst day ever, triggers global chip routAPWall Street drops to its worst day since June after the sell-off for tech stocks deepensIrish TimesHeavyweight tech stocks plummet as AI cash burn spooks investors
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