Nasdaq falls over 2% on AI spending concerns; Meta plunges nearly 7%
NVDA NVIDIA Corp
$212.21 -4.40%
View chart & analysis → - 1The Nasdaq fell more than 2% due to concerns regarding spending by artificial intelligence companies.
- 2Meta shares plunged approximately 7% as the company recorded a quarterly free cash flow of -$2.12 billion.
- 3Meta raised its annual expected capital expenditure range to $135 billion - $145 billion.
So what's the key point?
The Nasdaq index fell more than 2% because of concerns over high spending on artificial intelligence. Meta's stock price dropped nearly 7% after the company increased its expected future spending range up to $145 billion.
Source CNBC · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.