ASX set to rise as global tech stocks fall

The Australian share market is expected to rise at opening, with ASX 200 futures up 15 points overnight, despite a major global tech sell-off. Google parent Alphabet suffered its worst one-day fall on record, plunging 12.6% to wipe nearly $US500 billion off its value as investors worried AI spending is outpacing profits. Its negative free cash flow of $US9.1 billion shocked analysts. Microsoft shares barely moved, highlighting investor scrutiny of how AI growth is financed. Alphabet plans to increase investment spending further, raising questions about whether its Cloud revenue can offset costs.