AI Selloff Gains Steam. Nasdaq Sinks Over 3%.

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• The Tech Sell-Off is Putting the AI Trade on Notice. An Expert is Questioning Whether the Spending is Justified.

  The Nasdaq Composite fell more than 3% on Friday, its worst day since June, as sell-offs in Amazon and Intel stock highlighted investor pressure on the AI trade. Investors increasingly want companies to show how large spending commitments will produce profits, rather than simply promising a place in the next technological revolution. Amazon reported negative free cash flow of $42.4 billion over the preceding 12 months, and its latest results indicated further increases in AI spending. Mark Vena, CEO and principal analyst at SmartTech Research, said investors are losing patience with AI spending that lacks clear payback dates, while Intel also faces weak PC demand and manufacturing challenges. He expects a more selective market that rewards companies turning adoption into profitable revenue.

  Yahoo Finance·30/10, 19:14▼ AMZN▼ NVDA▼ QQQ▼ GOOGLAI investmenttech stocksNasdaq
• Tech gets crushed, defensive stocks shine. How we're making sense of it all

  U.S. stocks fell sharply on the last trading day of October, with the S&P 500 down more than 2% and the Nasdaq down over 3.5% as the market continued to push back on AI-related tech names. Intel plunged over 30% after a disappointing outlook, and Sandisk fell 15% after underwhelming earnings. Amazon, Alphabet and Microsoft also dropped after their reports; the author sees the Amazon and Microsoft declines as less warranted, though investor appetite for capital-intensive AI spending appears to be waning. Jim Cramer said the Amazon dip is buyable and kept Amazon at a 1 rating, while Microsoft is nearing an upgrade to a buy-equivalent 1 if its slide continues and Alphabet stays at hold-equivalent 2. Healthcare stocks outperformed this week, led by Eli Lilly at a new all-time high, and the team still wants to add to its Boeing position; more than 100 S&P 500 companies report this week, October nonfarm payrolls are expected to add 72,500 jobs, and the midterms are on Tuesday.

  CNBC·30/10, 18:55▼ NVDA▼ QQQ▼ AAPL▼ AMZNtech stocksAI investmentNasdaq
• Tech Sell-Off Grips Wall Street as Investors Worry About AI Spending

  The Nasdaq fell 2.5% when trading resumed on Friday, after dropping more than 1.3% on Thursday, as investors worried about excessive AI spending. Amazon shares fell as much as 5.9% after it reported third-quarter capital spending of $77.3 billion, above expectations, while Intel plunged 29.4% in its worst day in two years after warning it would increase spending this year. Amazon and Intel together lost about $300 billion in market value on Friday, and Alphabet suffered a record $500 billion wipe-out on Thursday over fears AI could erode its search advertising business. Goldman Sachs predicts that five AI hyperscalers, namely Microsoft, Alphabet, Amazon, Meta and Oracle, will spend $1.2 trillion on infrastructure next year, but concerns are growing that this spending may not translate into revenue and profit. Rising oil prices added pressure, with Brent crude rising above $117 a barrel, its highest since April.

  Yahoo Finance·30/10, 13:48▼ QQQ▼ AMZN▼ MSFT▼ NVDANasdaqtech stocksAMZN
• Tech stocks crushed as Nasdaq futures tumble nearly 800 points

  Nasdaq futures fell nearly 800 points, or 2.7%, before Friday's open after weak earnings from Alphabet, Amazon and Intel revived doubts about AI returns. Intel shares plunged more than 26% premarket, while Alphabet fell more than 12% on Thursday, its worst day since its 2004 IPO. Vital Knowledge's Adam Crisafulli called this one of the worst tech earnings seasons in memory. S&P 500 futures were down 1.1% and Dow futures 0.1%. Investors are also worried about the debt companies are taking on to fund data center spending, and UBS advised clients to diversify beyond AI.

  Yahoo Finance·30/10, 13:25▼ QQQ▼ AMZN▼ NVDA▼ SPYAI investmentearningstech stocks
• The Nasdaq Crashed 700 Points in a Day Last Week. One Major Wall Street Firm is Predicting the Correction Will End After Midterms.

  The Nasdaq plunged nearly 700 points in a single trading session as concerns about artificial intelligence spending rattled technology investors. One major Wall Street firm believes the correction could end after the 2026 midterm elections.

  Yahoo Finance·26/10, 21:18• QQQ• SPYNasdaqAI investmenttech stocks
• Stocktwits AI Roundup: Meta’s Capex, Lam’s Supply Warning Hit Tech Stocks As Netflix Disappoints

  Tech stocks fell sharply on Thursday as concerns grew over whether massive AI investments would generate sufficient returns; the Nasdaq dropped 2.6%, its steepest daily decline since June, while the S&P 500 fell 1.2%. Meta tumbled 7% after raising the low end of its capex forecast by $5 billion to $135 billion to $145 billion and announcing plans for a new share structure, despite better-than-expected Q3 revenue; Nvidia (NVDA) lost 4% and SpaceX (SPCX) fell about 9%. Netflix shares slid after its Q4 profit forecast fell short of expectations and it cut its full-year advertising forecast, even though Q3 revenue rose nearly 12%. Western Digital and Lam Research both reported results above expectations, but WDC shares fell 6.4% the day after its report.

  Yahoo Finance·23/10, 06:01▼ META▼ QQQ▼ NVDAtech stocksAI investmentearnings

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• Anthropic turns profitable but could go back into losses: Seaport analyst

  Seaport Research Partners analyst Jay Goldberg views Anthropic's operating profit of almost $1 billion as likely temporary. He said the company has warned it may be profitable in the next quarter or two before returning to losses, as it shifts from leasing computing capacity by the hour from Amazon to building its own compute, which it considers a key competitive advantage and will spend heavily on. Goldberg described the relationship with Amazon (AMZN) and Google (GOOG, GOOGL) as complex, since Anthropic is both a major customer, with a large share of Amazon's AI revenue coming from it, and a potential competitor. He does not think conclusions about Anthropic can be drawn from this week's tech market moves, citing interest rates and an ongoing war. Anthropic's computing bill is falling quickly, which is good news for now, but that is expected to reverse as it starts buying its own compute.

  Yahoo Finance·30/10, 21:09▲ AMZN
• Why GE Vernova Stock Fell on Friday

  GE Vernova shares fell as much as 4.9% in Friday's trading despite strong third-quarter results, with revenue up 27% year over year and orders surging 96% organically, amid an AI infrastructure stock sell-off. Backlog rose $20 billion to a record $197 billion, and management expects it to top $200 billion in the fourth quarter. The company will acquire Trench Group for $9 billion, funding half the price with debt, and several analysts cut price targets, including TD Cowen to $1,125 from $1,235 and Jefferies to $1,100 from $1,185. The analysts are not bearish on the stock but are concerned about conversion timing and limits on margin expansion. Management raised full-year guidance, lifting free cash flow at the midpoint to $16.5 billion from $12 billion, and doubled its buyback authorization to $20 billion.

  Yahoo Finance·30/10, 21:04
• Orezone Files Technical Report for the Casa Berardi Updated Life-of-Mine Plan

  Orezone Gold has filed the NI 43-101 technical report supporting the updated Life-of-Mine Plan for its Casa Berardi mine in Quebec, Canada, which was previously announced on September 15, 2026. The report, a Preliminary Economic Assessment with an effective date of June 30, 2026, is available on SEDAR+ and the company's website. Orezone states there are no material differences between the report and the results disclosed in the earlier news release. The company notes that Casa Berardi, which it recently acquired, has produced over 3.2 million oz of gold to date.

  Yahoo Finance·30/10, 21:00
• Evercore ISI downgrades Reddit, says monetization may not offset traffic weakness

  Evercore ISI downgraded Reddit to In Line from Outperform and cut its price target to $120 from $265 after the company's third-quarter results beat estimates but warned of declining traffic due to AI search summaries. Analyst Mark Mahaney said U.S. daily active users fell 2% year over year, and management warned global daily active users could drop by a low-double-digit percentage in the fourth quarter from about 130 million if search-referral losses continue at October's pace. Revenue rose 53% to $895 million and adjusted EPS was $1.40, but fourth-quarter guidance had a midpoint of $1.015 billion, below the $1.05 billion Wall Street estimate, and shares fell more than 29% on Friday. Evercore still views monetization positively but is less confident that it can offset pressure on user growth.

  Yahoo Finance·30/10, 20:53
• Intel Stock Suffers Worst Crash in 50 Years as Weak Forecast Overshadows AI Chip Demand

  Intel shares plunged nearly 30% to $65.76 on Friday, wiping out more than $146 billion in market value in the worst single-day decline in over 50 years, after the chipmaker forecast fourth-quarter revenue of $15 billion to $16 billion, below the $17.07 billion Wall Street expected. Its third-quarter results were strong, with revenue up 21% to $16.5 billion and Data Center and AI revenue reaching $7.3 billion, up 78%. However, Intel forecast adjusted EPS of $0.25 versus the $0.43 estimate and a non-GAAP gross margin of 38%, down from 44.1%, citing weak PC demand, server chip manufacturing constraints and an accident at an Israel factory. CFO Dave Zinsner called 2027 an investment year and warned that positive free cash flow is probably not likely next year, as Intel spends heavily on manufacturing expansion.

  Decrypt·30/10, 20:53Intelsemiconductorsearnings
• Former SEC Chair: Broadcom's $63 Billion Package Feels Like "That 08 Off-Balance Sheet Craze"

  Broadcom has put together a $63 billion package so Anthropic can buy its chips, and banks plan to sell as much as about $21 billion of high-grade bonds from it as soon as early next year. Former SEC Chair Gary Gensler compared the package to the off-balance-sheet deals of 2008 and raised concerns about guarantees written by Broadcom, NVIDIA and AMD. Broadcom provides residual value support on the $42 billion of senior debt, which costs it if the chips are worth less than what is owed. Anthropic is both Broadcom's growth driver and its credit risk, as its run-rate revenue passed $30 billion while its IPO filing showed steep losses. Broadcom trades at 20x forward earnings, near its three-year low, and the author says some of that risk is already reflected in the price.

  Yahoo Finance·30/10, 20:52BroadcomAnthropicbonds