Nasdaq faces $2 trillion market value wipeout amid AI spending concerns

NEW YORK: More than $2 trillion in market value is at risk on the technology-heavy Nasdaq 100 this month as investors reassess whether massive investments in artificial intelligence will generate returns quickly enough.

The index has fallen more than 5.8 per cent in October, with concerns intensifying after major technology companies raised their spending forecasts for AI infrastructure. Meta, Alphabet and Amazon have announced higher investment plans as they compete to expand their computing capacity and AI services.