US tech stocks see sharp falls over AI cost fears

US tech stocks slid as concerns intensified over the rising costs of the AI build-out, with Intel falling as much as 30% after warning of a weaker computer market while planning to increase AI spending, and Amazon dropping as far as 6% after earnings fell short of expectations. The tech-heavy Nasdaq opened Friday at its lowest level in more than two months, down 2.5%, while Reddit fell 26% and Roblox nearly 20%. The losses follow Alphabet's value plunging by more than $500bn on Thursday after it revealed its AI summaries were affecting core search advertising revenue.