Intel shares fell 8.1% on Thursday, October 22, as rising oil prices and concerns over AI spending weighed on chip stocks. Brent crude topped $112 a barrel after attacks in Saudi Arabia, fuelling worries that inflation and borrowing costs will stay high, and the S&P 500 and Nasdaq Composite dropped 1.2% and 2.6%. The article notes that Treasury yields fell during the session but remain well above pre-war levels, while financing costs for massive data center build-outs keep rising. Meta reported negative free cash flow for the first time since 2012 and said it may spend more on capital expenditures than planned; it also approved a non-voting stock class that could raise capital without diluting CEO Mark Zuckerberg's voting control, which was seen as a sign that financing costs make borrowing less attractive.
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