US tech stocks see sharp falls over AI cost concerns

Image source, Michael Nagle/Bloomberg via Getty ImagesByRachel ClunBusiness reporter, Reporting fromNew YorkPublished9 minutes agoUS stocks have continued to slide as concerns continue to intensify over the increasing costs of the artificial intelligence (AI) build out.Shares in Intel continued their overnight slide into early trading on Friday, falling as much as 30% after the chip maker warned of a weaker computer market even as it plans to increase spending on AI.Amazon shares fell as far as 6% before recovering after its reported earnings on Thursday evening fell short of investors' expectations.The tech-heavy Nasdaq stock exchange opened on Friday at its lowest level in more than two months, down 2.5%, as other tech stocks including Reddit and Roblox continued to fall.The losses follow the value of Google owner Alphabet plunging by more than $500bn on Thursday after it revealed its own AI summaries were affecting its core search advertising revenue.Related topicsArtificial intelligenceStock marketsNASDAQ