Alphabet AI spending drives Nasdaq futures down 1.5% Thursday
Business
Nasdaq futures slid as much as 1.5% on Thursday after Alphabet's big AI investments raised eyebrows.
The company's search ad revenue disappointed, and its heavy spending on AI led to a 10.2% premarket drop in shares, putting more than $400 billion of market value at risk.
Microsoft rises 3.6% global markets mixed
Meanwhile, Microsoft went the other way: its shares climbed 3.6% thanks to strong cash flow and upbeat cloud growth forecasts, showing that not all tech giants are feeling the same heat from AI spending.
Around the globe, markets were a mixed bag: Europe ticked higher, most Asian indices dipped except Japan's Nikkei, and India's Sensex jumped 905.01 points, or 1.24%, to close at 74,151.04, boosted by banks and falling oil prices.