Tech Shares Fall on AI Cash Burn Worries
Global stocks tumbled as heavy AI spending and cash burn at major tech firms sparked investor anxiety. Meanwhile, investors sought safety in US bonds and energy stocks surged on rising oil prices.
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Wall Street tech shares plunged on Friday, driving the S&P 500 down 1.82% to 7,580.07 as heavy AI cash burn triggered a broad market selloff. The sharp decline sent investors rushing toward the safety of United States government bonds. Markets dropped because surging capital expenditures raised concerns that heavy artificial intelligence investments will fail to generate adequate returns.
