Fears over $828 billion AI capex spending spree help wipe $1 trillion from Nasdaq 100

Disclosures showing roughly $828 billion of hyperscaler AI capex this year, with bank estimates near $1 trillion by 2027, triggered a sharp tech selloff as investors questioned returns and margin pressure. The Nasdaq 100 fell 2.9% and about $1 trillion in value was erased, weighing on AI-linked equities and broader risk sentiment, with possible spillover into crypto.