Feb 5 (Reuters) - The S&P 500 dropped to an over two-week low and the Nasdaq sank to its lowest level in more than two months on Thursday, as the AI theme came under renewed pressure after Alphabet’s spending plans and Qualcomm’s downbeat forecast rattled investors.
Shares of Alphabet fell 4.2% after the Google parent said it would double its capital expenditure this year, signaling another aggressive push to strengthen its position in the AI race.
Qualcomm slid 8.2% after forecasting second-quarter revenue and profit below estimates.
The pressure spread across tech m
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