US stocks: Nasdaq tumbles at open as Amazon, Intel add to AI spending woes

THE Nasdaq opened at its lowest level in more than two months on Friday, after Amazon’s aggressive AI spending plan and Intel’s cash burn warning intensified investor concerns about escalating costs of AI infrastructure buildout and the return timeline.

The Dow Jones Industrial Average rose 41.3 points, or 0.08 per cent, to 52,383.9 at the open. The S&P 500 fell 89.3 points, or 1.16 per cent, to 7,631.07​, while the Nasdaq Composite dropped 592.2 points, or 2.26 per cent, to 25,592.486. REUTERS