On this episode of Stock Movers:
- Amazon.com Inc. (AMZN) is down after the company announced plans to spend $200 billion this year on data centers, chips and other equipment, worrying investors that its colossal bet on artificial intelligence may not pay off in the long run.
- Stellantis (STLA) is taking more than €22 billion ($26 billion) in charges mainly linked to reversing course on its electric vehicle strategy, prompting a record plunge in the Jeep and Fiat owner’s shares.
- Software stocks ETF (IGV) bounces. An exchange-traded fund tracking software makers rebounded, while still heading toward its worst week since October 2008.
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