US tech stocks suffer worst month in 18 months on AI profitability doubts

US technology stocks suffered their worst month in 18 months, with the Nasdaq falling 6% in October amid growing fears of an artificial intelligence bubble burst. Investor doubts about AI profitability triggered widespread sell-offs. Intel shares plunged 30% Friday after reporting $11 billion in losses through September, erasing roughly $140 billion in market value. Google's parent Alphabet saw shares drop 13% after revealing negative cash flow of $9.1 billion due to heavy AI investments. The downturn has spread to China, where Hong Kong's tech index lost 11% in October, marking three consecutive monthly declines. Companies like Tencent and Alibaba face capital outflows as AI spending is now viewed as increasingly risky.