Cloud computing stocks bounce back — SKYY jumps, but Amazon’s AI spending plan keeps nerves high

Cloud computing names wrapped up Friday in the green, with key cloud ETFs notching gains—First Trust Cloud Computing ETF up 4.4%, WisdomTree Cloud Computing Fund ahead 3.5%, and Global X Cloud Computing ETF climbing 2.2%. Amazon, though, dropped 5.6% as investors balked at the mounting price tag of its AI buildout. Snowflake soared 7.5%, while Microsoft edged up 1.8%.

Artificial Intelligence · Cloud Computing · NASDAQ:AMZN · NASDAQ:GOOGL · NASDAQ:MSFT · NYSE:SNOW · Stock Market · Technology
Big Tech stocks brace for AI spending scrutiny after Nvidia’s jump and Amazon’s drop

Big Tech stocks brace for AI spending scrutiny after Nvidia’s jump and Amazon’s drop

Big Tech walks into Monday divided: Friday’s bounce revived chip stocks, but Amazon sank as new concerns flared over AI infrastructure costs. The Dow topped 50,000 for the first time, with the S&P 500 rising 2% and the Nasdaq up a shade over 2%, thanks mostly to Nvidia and other semiconductors.
8 February 2026
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Nvidia, AMD jump on Big Tech AI spending plans; CPI and Nvidia earnings are the next test for AI stocks

Nvidia, AMD jump on Big Tech AI spending plans; CPI and Nvidia earnings are the next test for AI stocks

AI chip shares ended last week on a sharp rebound, with Nvidia up 7.8% on Friday as the Dow logged its first close above 50,000. Advanced Micro Devices rose 8.3% and Broadcom gained 7.1%, while Amazon fell 5.6% and software names such as CrowdStrike and Palantir climbed more than 4%; the Nasdaq still slipped 1.9% for the week. Ross Mayfield, an investment strategy analyst at Baird, said he sees “real demand for AI products” beneath the noise.
8 February 2026
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Big Tech’s $630B AI data-center spending surge is squeezing chips, electricians — and investor patience

Big Tech’s $630B AI data-center spending surge is squeezing chips, electricians — and investor patience

Amazon.com sketched out a $200 billion capital spending plan for 2026, with the bulk aimed at assets like data centers and servers. The stock fell 9% on Friday. That spike in outlays is stirring up echoes of the dot-com era’s infrastructure binge in the early 2000s—an effort that gave birth to the current internet but ended up handing backers only modest gains.
8 February 2026
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Cloud computing stocks rebounded — but Amazon’s $200 billion spending plan keeps traders on edge

Cloud computing stocks rebounded — but Amazon’s $200 billion spending plan keeps traders on edge

Cloud computing names caught a bid Friday. First Trust Cloud Computing ETF climbed 4.4%, while WisdomTree Cloud Computing Fund tacked on 3.5%. The group’s late-week rally followed a volatile run for tech. Amazon dropped 5.6%. Microsoft managed a 1.8% gain, Alphabet shed 2.5%. Cloudflare and Datadog finished higher.
7 February 2026
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Big Tech stocks swing on AI spending fears: Amazon slides, Nvidia rebounds as week ahead looms

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.
7 February 2026
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Dow hits 50,000 as Amazon’s $200 billion AI spending plan spooks tech investors

Dow hits 50,000 as Amazon’s $200 billion AI spending plan spooks tech investors

Wall Street surged Friday, pushing the Dow past 50,000 for the first time as chipmakers soared on hopes for fresh AI data-center investments, though Amazon slipped amid concerns over increased spending. The S&P 500 climbed 1.73%, with the Nasdaq Composite up 1.91%. Nvidia, AMD, and Broadcom all rallied over 7%. “Real demand for AI products” is still drawing in buyers, said Ross Mayfield, investment strategy analyst at Baird.
6 February 2026
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Dow rebounds toward 50,000 as tech snaps back; bitcoin and gold claw higher while Amazon capex rattles AI bets

Dow rebounds toward 50,000 as tech snaps back; bitcoin and gold claw higher while Amazon capex rattles AI bets

Stocks snapped back on Friday, reversing course after three straight sessions of selling that dragged down big tech and other risk plays. By 12:10 p.m. ET, the Dow was up 989.72 points, or 2.02%, sitting at 49,898.44. The S&P 500 added 1.56%, while the Nasdaq jumped 1.69%, according to Reuters data. “The market looks like it was getting a bit overdone to the downside,” said Robert Pavlik, senior portfolio manager at Dakota Wealth.
6 February 2026
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Amazon stock slides on $200 billion AI capex plan as Nvidia and other AI stocks split

Amazon stock slides on $200 billion AI capex plan as Nvidia and other AI stocks split

Amazon.com shares dropped roughly 9% on Friday after revealing a $200 billion capital expenditure plan for 2026, intensifying investor concerns about Big Tech’s AI investments delivering quick returns. Analysts at MoffettNathanson described the size of the spending as “materially greater than consensus expected.”
6 February 2026
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US Stock Market Today Updates

AI PORTFOLIO

Top Stock Picks

Today’s highest-ranked model selections.

#1 Strong buy

Alphabet

NASDAQ:GOOGL 92/100 • ★★★★½
#2 Strong buy

Taiwan Semiconductor Manufacturing

NYSE:TSM 89/100 • ★★★★½
#3 Buy

S&P Global

NYSE:SPGI 88/100 • ★★★★
#4 Buy on weakness

Amazon

NASDAQ:AMZN 86/100 • ★★★★
#5 Buy on weakness

Microsoft

NASDAQ:MSFT 84/100 • ★★★★
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Editorial model selection. Not personalised advice.
MARKET CALENDAR

Key Events Today

The catalysts most likely to move markets.

#1

U.S. index futures reopen at 18:00 ET

This is the clearest scheduled U.S.-market price-discovery point today and can transmit weekend news into equity-index futures before Monday's cash session.

#2

New Zealand retail sales at 18:45 ET

The Q2 retail package can move NZD and regional risk sentiment. Spillover to U.S. assets is usually secondary unless the result is unusually large.

#3

No scheduled domestic U.S. data or corporate reports

The absence of U.S. releases, earnings, IPO pricings and split events leaves fewer scheduled catalysts, increasing the relative importance of weekend headlines and positioning at the futures reopen.

View full calendar
Times and estimates may change. Verify before trading.