Amazon AI Capital Spending Shatters Outlook, Shares Drop 10%; Micron, ARK AMD Buy

[Para 1: The Lead] Amazon (AMZN-US) shares fell more than 10% in after-hours trading following Q4 results, as revised guidance and elevated capital spending plans for 2026—projected to reach $20 billion—sparked market caution. [Para 2: Supporting details & Context] Alphabet (GOOGL-US) posted strong cloud growth yet shares declined as a sell-side analyst downgraded Microsoft (MSFT-US) to hold, citing a lack of near-term catalysts. Alphabet’s results highlighted investor concern over AI-driven spending and return timelines, with broader tech volatility intensifying scrutiny of AI themes. Crypto activity also weighed on risk assets: Bitcoin (BTC) fell to $65,262 in a 24-hour session, its lowest level since October 23, 2024, erasing gains since Donald Trump’s election. Meanwhile, ARK Investment Management (AMZN-focused ETF) added a $28.2 million position in Advanced Micro Devices (AMD-US) amid broader weakness in semiconductors.