US stocks plunge on AI business model concerns; Google, Intel lead declines

US equities, including the S&P 500 and Nasdaq, have declined for a third consecutive week, confirmed by multiple sources, driven by investor concerns over the high capital expenditures associated with AI development and uncertain near-term returns. Disappointing earnings from major tech firms like Google and Intel are claimed to have exacerbated doubts regarding AI-driven business models and monetization strategies. The core uncertainty revolves around whether the massive AI buildout will yield commensurate financial returns.