Big Tech stocks swing on AI spending fears: Amazon slides, Nvidia rebounds as week ahead looms
Investors can't agree on whether the AI surge is worth the price tag as Big Tech heads into next week. Amazon.com slid 5.6% on Friday, while Nvidia soared 7.9%. Thanks to Amazon’s latest moves, expected AI spending by it and cloud giants Microsoft, Alphabet, and Meta is now pegged close to $600 billion for 2026. The Dow broke through 50,000 for the first time ever on Friday. Yet the Nasdaq lags, down 0.9% so far this year.