Intel woes wipe $1 trillion in chip market cap
The gist
Intel shares fell 30% Friday, wiping out nearly $150 billion as chip stocks shed about $1 trillion.
Investors are questioning whether massive AI spending is paying off.
How it unfolded
- Mid-June 2026Intel reached its highest-ever market capitalization of $673.43 billion.
- Oct 29, 2026Intel shares plunged 23% after hours after the chipmaker warned it would burn cash this year due to the faltering PC market and bottlenecks.
- Oct 29, 2026Alphabet shed about $500 billion in market value, its worst day ever, while Amazon reported a sharp cash outflow and signaled higher capital expenditure next year.