AI Revenues Fail to Shield Big Tech from Sell-Off

Soaring artificial intelligence revenues have failed to shield Intel, Amazon and Google’s parent company Alphabet from a brutal Wall Street sell-off, as their latest quarterly results deepened investor jitters over mounting capital spending and delayed returns.

Their earnings reports exposed the precarious economics of the AI boom: hyperscalers are racing to build out advanced computing capacity well before those assets generate enough cash to finance the next wave of infrastructure.

Intel plunged about 23 per cent in extended trading on Thursday, while Amazon shed 7.3 per cent and Alphabet tumbled 12.6 per cent during the regular session in its worst day on record.