While the AI rally may not be as fragile as it would seem, investors are also finding it tough to fully shake off any concerns on AI spending. In particular, the massive amount of capital expenditure spent by big tech towards AI. [Nasdaq 100 performance heatmap for 5 August 2026]All in all, it's still just a step back for now after the price breakout for the S&P 500 (and Dow) earlier this week. As mentioned yesterday, markets have been pegged back every so often by AI spending worries throughout the year but have still managed to shrug that off come what may. S&P 500 futures are up 0.1% today but Nasdaq futures are down 0.1%.