Tesla stock closed down 14.52% and Alphabet closed down 6.89% after they signaled increased AI spending, amid worries about the mounting costs of the AI boom (Arjun Kharpal/CNBC)
Investors punished two of tech’s biggest AI spenders after earnings put capex back in focus.
Tesla closed down 14.52%, while Alphabet fell 6.89%, after both companies pointed to higher AI spending. CNBC’s note says the moves reflected investor concern over the mounting costs of the AI boom. The surrounding links frame the pressure as especially acute for Tesla, where AI and robotics spending is weighing on profits and cash flow. Techmeme's note
Tesla closed down 14.52%, while Alphabet fell 6.89%, after both companies pointed to higher AI spending. CNBC’s note says the moves reflected investor concern over the mounting costs of the AI boom. The surrounding links frame the pressure as especially acute for Tesla, where AI and robotics spending is weighing on profits and cash flow. Techmeme's note
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