Tesla and Google Shares Slump on AI Spending Worries
Shares of technology giants Tesla and Alphabet fell sharply after both companies revealed that they are spending billions of dollars on artificial intelligence (AI). Although both companies continue to grow and believe AI will shape the future, investors are becoming concerned about the rising costs and how long it will take before these investments begin to generate strong financial returns. Google's parent company, Alphabet, saw its share price fall by nearly 7%, while Tesla's stock dropped by 14.5%. The decline came after both companies released their latest financial results, which showed negative free cash flow. Free cash flow is the money a company has…