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Japan's Nikkei slumps 3% as tech stocks tumble on AI worries
TOKYO: Japan’s Nikkei share average dropped as much as 3% on Friday, led by chip-related stocks, as concerns mounted over the sustainability of spending to fund the AI boom. Tokyo tracked overnight losses on Wall Street, and were given additional impetus by late earnings from Amazon and Intel that showed massive cash burns, sending shares of those companies and their peers sharply lower in extended trading. “This can be seen as a sign of growing concerns regarding the profitability of AI investments, which is weighing on share prices,” said Maki Sawada, an equities strategist at Nomura S...
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