By Shashwat Chauhan and Tharuniyaa Lakshmi
Oct 30 (Reuters) – The Nasdaq tumbled to its lowest in nearly three months on Friday after Amazon’s aggressive AI spending plan and Intel’s cash burn warning intensified concerns over mounting costs of AI infrastructure buildout and the timeline for returns.
Amazon.com slipped 2% 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. It pared much of its premarket declines.
Intel tanked more than 30%, set for its biggest one-day loss on record, after the chipmaker warned it would burn cash this year due to a weak market for personal computers, manufacturing hurdles and heavy spending to expand production.
The decline sparked a selloff in global chip stocks, with Nvidia down…
