AI stocks reel after tech giants' spending binge rattles investors

IREN

30/10/2026 12:51

** AI-linked stocks fall premarket after results from Intel INTC.O, Amazon AMZN.O and Alphabet GOOGL.O rekindle fears about spending
** "Investors are using the 'sell' button to let the tech sector know that it might be time to play it cool," says Dan Coatsworth, head of markets at AJ Bell
     
SEMICONDUCTORS 
** INTC down 25.89%, on track to lose over $120 billion in value after weak forecast  
** Other chip stocks also fall, with Nvidia NVDA.O and AMD AMD.O down 2.94% and 8.24%, respectively 
** Micron MU.O falls 5.47% and SanDisk SNDK.O retreats 8.42%
** Arm Holdings ARM.O among the weakest performers with a 9.08% drop
** The Philadelphia SE Semiconductor Index .SOX headed for biggest monthly drop since July
     
NEOCLOUDS
** CoreWeave CRWV.O sinks 7.21%, while peers Nebius NBIS.O and IREN IREN.O down 7.49% and 6.70%, respectively
     
SERVER MAKERS 
** Server makers Dell DELL.K, Super Micro SMCI.O and Hewlett Packard HPE.N fall between 5.94% and 12.07%
     
HYPERSCALERS 
** AMZN down 6.81% after downbeat Q4 rev forecast and massive cash burn in Q3, leads losses among Magnificent 7 
** Alphabet down 1%, set to extend declines following disappointing results earlier this week
** SpaceX SPCX.O retreats 4.2%, while Oracle ORCL.N falls 3.85%

 (Reporting by Jayasree Prabhu in Bengaluru)
 ((jayasree.prabhu@thomsonreuters.com))