Tech capex shock, crypto slides, rotation debate

First up, Alphabet.

Those shares are falling this morning after the Google parent announced massive spending plans.

The company planning to dish out $185 billion to build out its AI infrastructure this year.

2026 spending totals more than the last three years of spending combined.

and investors will now look to Amazon results after the bell for its plans on AI expenditures.

Plus, Bitcoin falling below $70,000 per token, its lowest level in 15 months.

The cryptocurrency is now down 44% since its record high in October, and overall $1.7 trillion has been wiped from crypto assets.

Despite a pro-crypto White House don't expect any intervention, before the House Financial Services Committee, Treasury Secretary Scott Besson indicated the government would not bail out crypto, whatever that would even mean.

And silver is plunging after two days of back-to-back gains.

The precious metal sunk by 17% at one point as the commodity tries to find a floor amid the market rout.

The record run in silver and gold unraveled last week amid a rebound in the US dollar.

Let's get a check in on stock futures right now.

We've got selling pressure across the board here today.

So yesterday, there was a bit of a divergence with the Dow performing better, the NASDAQ doing worse.

Today, all three are indicating a drop at the open, although there's still divergence, but the Dow is negative, indicating a drop of nearly 170 points at the open.

The S&P 500 pointing to a decline of about six tenths of 1%.

NASDAQ 100 futures down the most, about three quarters of 1%.

And that is because at least primarily, or at least in part, because of Google, the alphabet, the Google parent falling after saying it plans to nearly double its spending this year.

The company reporting CapEx spend in the range of $175 billion to $185 billion.

As CEO Sundar Pichai says, AI investments are driving revenue and growth across the board.