Nasdaq futures sink as Amazon, Intel intensify AI spending fears

Nasdaq futures slid more than 2% on Friday after Amazon’s plans for continued heavy AI spending and Intel’s warning of cash burn this year deepened investor concerns about escalating costs of AI infrastructure buildout and the timeline for returns.

Shares of Amazon.com were down 6.3% in premarket trading after the company reported a sharp cash outflow in the third quarter and signaled another increase in capital expenditure next year, on top of already elevated outlays.