Here is the rewritten story with the unsupported numeric claim removed: Nasdaq futures tumble as Amazon, Intel results deepen AI spending woes Nasdaq futures fell sharply on Thursday as investors reacted to disappointing earnings reports from tech giants Amazon and Intel. The companies' results highlighted ongoing concerns about the impact of artificial intelligence (AI) spending on the tech sector. Amazon's third-quarter earnings missed analyst expectations, with the company's revenue growth slowing down due to increased competition in the e-commerce space. Intel's results also fell short, with the chipmaker citing a decline in PC sales and a slower-than-expected recovery in the semiconductor market. The disappointing earnings reports from these two tech heavyweights weighed heavily on the market, contributing to the decline in Nasdaq futures. The AI spending woes are a major concern for investors, as many tech companies have been investing heavily in AI research and development in recent years. However, the slow adoption of AI technology and increased competition in the space have led to a decline in revenue growth for some of these companies. The disappointing earnings reports from Amazon and Intel are a reflection of these challenges and have sent a warning signal to investors about the potential risks associated with AI spending. The decline in Nasdaq futures is a sign that investors are becoming increasingly cautious about the tech sector, which has been a major driver of market growth in recent years. The sector's performance will be closely watched in the coming weeks and months as investors look for signs of a turnaround.