Data and AI Exposure Stocks Drop as $600B AI Capex Plans Intensify Market Jitters

February 06, 2026 — Global software and data stocks fell as fears of AI disruption intensified pressure on firms investing heavily in AI, with hyperscalers planning about $650 billion in AI-related capital expenditures this year. Amazon shares downgraded in premarket trading after revisiting its $600 billion+ spending plans; RELX, Sage, Experian, and the London Stock Exchange Group each fell 5%, 4%, 2%, and 7% for the week, respectively. The S&P 500 is off 2% this week, with software and data services companies burning roughly $1 trillion in market value since January 28. In India, software exporters slid 2% on Friday, with the IT index down about 7% this week after $22.5 billion in market value wiped out. Alphabet shares also fell intra-day on updated spending guidance, reflecting broader investor unease over the pace of AI-driven capital spending.