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US technology stocks fell for a second straight day, with the Nasdaq down over 3.5%, Intel shares plunging as much as 30%, and Reddit dropping 26%. Alphabet extended losses after losing more than $500 billion in market value the previous day, as combined 2026 AI spending commitments from Meta, Alphabet, Oracle, Amazon and Microsoft reach $800.6 billion.
An analysis tracked all 145 Nasdaq companies that received a first minimum bid price notice in the first half of 2025 through October 26, 2026. It found 108 remain listed, though 30 of those have fallen back below $1, while 37 companies were delisted, acquired, or went bankrupt. 85 companies executed a reverse stock split, typically 1-for-20, with the median split occurring 258 days after the warning letter.
US tech stocks fell sharply, with Intel dropping as much as 30% after warning of a weaker PC market even as it boosts AI spending, and losing over $130bn in value. Amazon shares slid up to 6% following earnings that missed expectations, while Alphabet continued falling after a $500bn plunge the previous day tied to AI summaries hurting search ad revenue. The Nasdaq opened at its lowest level in over two months, down 2.5%, with Reddit and Roblox also declining.
US tech stocks fell sharply on Friday, with the Nasdaq 100 down 2.6% and on pace for a roughly $1 trillion decline. Amazon shares dropped about two percent despite strong cloud earnings, as investors focused instead on its 2026 capital expenditure plans of $220 billion tied largely to AI. The slide followed Alphabet's historic 12.6% single-day plunge on Thursday, which wiped out over $500 billion in market value.
Binance disclosed a hack resulting in losses of roughly $6.3 billion, described as the largest in crypto history, with some reports pointing to a state-backed actor. Separately, Nasdaq futures fell sharply after Amazon missed both earnings and revenue estimates despite strong AWS growth, and Intel issued weak fourth-quarter guidance citing a continuing PC market slowdown, sending its shares down about 25% premarket.
Amazon shares fell about 7% and Intel dropped roughly 25% in premarket trading after both companies reported September-quarter results that missed investor expectations. Amazon missed on revenue and profit while keeping its 2026 capital expenditure forecast at $220 billion and reporting a larger negative free cash flow for a second straight quarter. Intel gave weaker-than-expected guidance, citing continued softness in the PC market, while chip peers like Micron, Nvidia, Arm and ASML also declined.
Alphabet's stock dropped significantly on October 29, pulling the Nasdaq down with it, after third-quarter earnings showed Google Services revenue of $96.3 billion, below Wall Street's $98.5 billion estimate. Search revenue growth slowed to 12% year over year, down from 17% in Q2 and 19% in Q1, while operating expenses rose and free cash flow turned negative as the company increases spending on data centers and AI models.
Alphabet stock fell more than 10% in premarket trading after the company posted its first simultaneous EPS and revenue miss since late 2022, driven by Search revenue falling short of forecasts for a second consecutive quarter. Google Cloud revenue more than doubled, with the CFO calling its TPU systems a 'meaningful contributor,' but that growth wasn't enough to offset investor worry over Search. Microsoft, by contrast, rose in premarket trading as Azure grew 48% to become its largest business, even as a lighter capex figure weighed on cloud-infrastructure stocks.
Anthropic has filed an S-1 to list on the Nasdaq, with reports suggesting it could begin trading as early as next month at a valuation between $1.5 trillion and $2 trillion. The filing, running hundreds of pages, discloses detailed financial data about the AI lab for the first time, including its cost structure and revenue assumptions. SemiAnalysis analyst Joey Brookhart, who had modeled Anthropic's finances externally in July, discussed the filing's implications on the Decoder podcast.
Tech stocks extended gains for a second session, with optimism over Anthropic's planned Nasdaq listing continuing to lift AI-related shares in Asia, Europe and the US. Anthropic's S-1 filing reportedly spans more than 300 pages and outlines a governance structure giving founders outsized control relative to everyday shareholders. Separately, the Federal Reserve begins a two-day meeting today, with a policy decision due Wednesday at 2 p.m. ET.
Anthropic has filed a Form S-1 with the SEC to list Class A shares on Nasdaq under the ticker 'ANT', with share count and price range still undetermined. The company reported $16.3 billion in first-half 2026 revenue, up from $1.2 billion a year earlier, alongside an $80.7 billion net loss tied largely to financing-related accounting adjustments. Reuters has reported the offering could raise up to $100 billion, though that figure is not yet confirmed.
Anthropic submitted its S-1 filing to the SEC, seeking to list on the Nasdaq under the ticker ANT, with earlier reporting pointing to a target raise of up to $100 billion before Thanksgiving. The filing shows revenue hit $16.3 billion in the first half of 2026, up from $1.2 billion a year earlier, while an $80.7 billion paper loss largely reflects accounting for investor notes converting to shares rather than cash spending.