Alphabet, Tesla shares fall as AI spending raises investor concerns

Alphabet and Tesla shares declined after both companies significantly increased AI capex targets, which pushed free cash flow into negative territory and alarmed investors. Separately, Tesla shares dropped 6% in premarket trading on July 23, dragging S&P 500 futures lower ahead of Q2 earnings. The report also noted that Tesla holds 11,509 BTC. These combined factors contributed to the downward pressure on the stock prices of both technology giants during the trading period.