October 30 – In the AI infrastructure boom, share prices of several major companies have dropped sharply, making things even harder for investors who had previously participated in their large-scale stock offerings. On Friday, shares of Intel, Alphabet, and Meta Platforms fell. A previous round of earnings that fell short of expectations pushed these companies' share prices below the purchase prices of investors who had participated in their stock offerings in recent months. The decline began on Wednesday when Alphabet reported earnings, with its search and other advertising revenue below expectations; Intel then disclosed supply chain problems in data center components, further exacerbating market concerns. Both companies highlight doubts about whether massive AI investment can be sustained. The market is already struggling to absorb large-scale AI-related stock offerings and is also assessing whether huge investments can translate into long-term share price gains. The share price declines will further increase the difficulty for companies to raise the funds they need, and also make the outlook even less clear for whether Anthropic can match or exceed the fundraising scale of SpaceX's record-breaking listing earlier this year in its IPO.