Alphabet, Meta, Microsoft, Amazon, and Oracle have a collective $3T+ in AI spending commitments over the coming years, including Alphabet's $1T and Meta's $800B (Brody Ford/Bloomberg)

Alphabet, Meta, Microsoft, Amazon, and Oracle have collectively committed more than $3 trillion in AI spending over the coming years, according to Bloomberg via Techmeme. This total includes $1 trillion from Alphabet and $800 billion from Meta.

On Friday, the Nasdaq opened at its lowest level in over two months, with the Nasdaq Composite dropping 592.2 points, or 2.26 per cent, according to The Business Times - Companies & Markets. Investing.com reports that Nasdaq futures slid more than 2% following Amazon's plans for heavy AI spending and a warning from Intel regarding cash burn. These developments have intensified investor concerns regarding the timeline for returns and the escalating costs of building out AI infrastructure.

Investing.com notes that Amazon shares fell 6.3% in premarket trading after the company reported sharp third-quarter cash outflows and signaled increased capital expenditure for next year. Additionally, Intel shares dropped more than 25% following warnings of cash burn due to manufacturing bottlenecks, heavy production expansion spending, and a weak personal computer market.

Brief written by urgent.news from Techmeme, The Business Times - Companies & Markets, Investing.com — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.