Soaring artificial intelligence revenues have failed to shield Intel, Amazon and Google’s parent company Alphabet from a brutal Wall Street sell-off, as their latest quarterly results deepened investor jitters over mounting capital spending and delayed returns. Intel plunged about 23 per cent in extended trading on Thursday, while Amazon shed 7.3 per cent. Alphabet tumbled 12.6 per cent during the regular session in its worst day on record, dragging the Nasdaq Composite down 1.4 per cent and...

Shares of major Chinese optical communications suppliers slumped on Friday before clawing back some of their losses, extending a two-day sell-off despite upbeat third-quarter earnings driven by the global artificial intelligence infrastructure boom. Chengdu-based Eoptolink Technology closed 14.2 per cent lower at 196.00 yuan in Shenzhen on Friday, while Suzhou TFC Communication slid 8.4 per cent to 148.00 yuan and industry leader Zhongji Innolight fell 5 per cent to 553.00 yuan. The losses...

Shares of Chinese semiconductor suppliers Biwin Storage Technology and Moore Threads tumbled on Thursday alongside a broader rout in mainland technology stocks, despite blockbuster third-quarter revenue driven by strong artificial intelligence demand. Both stocks plunged more than 10 per cent during Thursday morning trading, reversing Wednesday’s rallies of 8.4 per cent for Biwin and 5.8 per cent for Moore Threads. By the end of the day, Biwin was down 15.79 per cent and Moore Threads was down...

As investor anxiety over an artificial intelligence bubble mounts, SpaceX’s Elon Musk and Nvidia chief Jensen Huang have offered starkly divergent outlooks on whether the specialist cloud providers powering the boom can survive their mounting debts. While Musk has warned of impending collapses and consolidation among the more than 200 dedicated graphics processing unit (GPU) rental ventures known as “neoclouds”, Huang remains bullish, insisting that robust market demand will unlock the capital...