How bad was Intel's stock drop?

Intel stock plunged 29%, the chipmaker's biggest single-day selloff since the 1970s.

What are investors worried about?

Concerns mounted over hyperscaler spending after disappointing Amazon and Google earnings. S&P Global also revised Meta's outlook to "negative," citing its high capex.

What did strategists say about the AI investments?

Earnings misses are generating "sober questions" about the AI investments powering the economy, a strategist told Bloomberg. A portfolio manager told the Financial Times that "a reassessment of AI means a reassessment of growth expectations."

AI Stocks & MarketsAI Business & IndustrySemafor Tech3h agoNov 2, 2026, 10:01 JST

Nasdaq slips into correction as Intel plunges 29%

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3 Key Points

What happened
The tech-heavy Nasdaq slid into correction territory on Friday as investors unwound their AI bets, and Intel stock plunged 29% — its biggest single-day selloff since the 1970s.
Why it matters
The retreat signals that investors are questioning how long the AI-driven growth story can hold, with one portfolio manager warning that "a reassessment of AI means a reassessment of growth expectations."

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How bad was Intel's stock drop?: Intel stock plunged 29%, the chipmaker's biggest single-day selloff since the 1970s.
What are investors worried about?: Concerns mounted over hyperscaler spending after disappointing Amazon and Google earnings. S&P Global also revised Meta's outlook to "negative," citing its high capex.
What did strategists say about the AI investments?: Earnings misses are generating "sober questions" about the AI investments powering the economy, a strategist told Bloomberg. A portfolio manager told the Financial Times that "a reassessment of AI means a reassessment of growth expectations."

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