INTC is trading at $47.09 (-3.10%) today, mirroring sharp declines across the semiconductor sector following Alphabet's massive AI capex plans and a significant post-earnings drop for AMD.
- Tech weakness is fueled by Alphabet's $185B AI spending forecast sparking cash flow fears, alongside a 17.3% decline in AMD shares.
- Broader market sentiment remains risk-off due to a crypto plunge and recessionary signals from weak jobless claims data.
- Major indices are under pressure, with the NASDAQ down 1.79% and the S&P 500 down 1.41% as investors rotate out of chip stocks.