Today’s Top Stories: Tesla Falls, Alphabet Faces AI Cost Questions, Oil Hits $100
TLDR
- Tesla shares dropped after quarterly earnings missed Wall Street expectations, with weak auto revenue and tight margins
- Alphabet beat earnings forecasts but investors worried about rising AI infrastructure spending
- Brent crude climbed above $100 per barrel for the first time in months on Middle East tensions
- Wall Street fell broadly as tech stocks led losses amid AI spending concerns and inflation fears
- Intel earnings are next in focus, with investors watching for signs of progress in AI and chip manufacturing
Tesla had a rough session on Wall Street after the electric vehicle maker posted quarterly results that missed analyst expectations. Automotive revenue came in weaker than forecast, profit margins narrowed, and heavy spending on artificial intelligence and research dragged on the bottom line.
Management talked up its long-term plans for autonomous driving and AI, but investors were not impressed. The focus stayed on the slowing core car business, and the stock sold off sharply.
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