AI meltdown: $2 Trillion wiped from tech stocks as investors question AI spending
October 2026 saw $2 trillion erased from Nasdaq-100 values as Big Tech earnings disappointed investors.
Alphabet suffered worst single-day drop in history after search advertising slowdown and massive AI cash burn.
Amazon reported negative free cash flow of $42.4 billion over 12 months driven by AI infrastructure spending.
Microsoft bucked trend with strong results, indicating AI investments can pay off selectively.
Investors demand concrete monetization proof as combined AI spending by top tech firms approaches $700 billion in 2026.
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