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Quartz·1 min read·medium

AI selloff hammers tech stocks as Intel and Amazon drag down the Nasdaq

Quartz Staff
✦AI Summary

Tech stocks faced a significant selloff as Intel and Amazon reported disappointing earnings, dragging down the Nasdaq index. The market decline was exacerbated by broader investor concerns regarding the profitability of AI investments.

Why it matters

This market movement highlights the volatility in the tech sector as investors begin to scrutinize the actual financial returns of massive AI infrastructure spending.

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Intel stock was down more than 27% in…

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