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Alphabet, Amazon, and Intel shares plunge after Q3 results, raising AI spending concerns; Alphabet sees worst day on record
Alphabet (Google's parent company), Amazon, and Intel shares plunged following their latest quarterly results, which deepened investor jitters over mounting capital spending on AI and delayed returns. Intel plummeted about 23% in extended trading on Thursday, while Amazon shed 7.3%. Alphabet tumbled 12.6% during the regular session, marking its worst day on record and dragging the Nasdaq Composite down 1.4%. Both Alphabet and Amazon signaled even larger capital expenditure in 2027, with Alphabet reporting a free cash outflow of US$9.1 billion and Amazon a US$42.4 billion free cash outflow over 12 months. In contrast, Microsoft appeared more adept at funding its infrastructure, reporting US$18.6 billion in free cash flow for the September quarter and expecting to remain free cash flow positive in fiscal 2027.
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