Alphabet, Amazon, Intel shares slide as AI spending bites
Alphabet had its worst day ever after a second straight quarter of negative cash flow, while Intel fell 23% after hours on a weak PC outlook.
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Alphabet shares fell more than 13%, their worst single day, wiping about half a trillion dollars off its market value.
Amazon fell over 4% after weaker-than-expected results and $42.4 billion of negative free cash flow over 12 months.
Intel dropped more than 23% in extended trade on a weak fourth-quarter forecast.