SPRX is trading at $36.84, down 9.46%, as investors question whether heavy AI investment will generate returns quickly enough to justify high valuations.
- The S&P 500 information technology index fell 3.9%, with chipmakers among the hardest hit. The selloff was concentrated in technology, and the Nasdaq fell more sharply than the Dow.
- Disappointing outlooks from Intel and Amazon intensified concerns; Alphabet’s earnings and negative free cash flow had already heightened scrutiny of AI spending.