India, Oct. 22 -- Asian stocks sank to a three-month low on Thursday, with renewed concerns over the financing and profitability of the artificial intelligence boom as well as escalating tensions in West Asia keeping investors on edge.
Investors also reacted to mixed earnings results from U.S. megacap companies. Tesla reported lower third-quarter profits and cut its annual capital expenditure forecast by a fifth.
Meta beat investor expectations for third quarter revenue and boosted its bet on AI with its spending outlook, but profits took a hit due to a $18 billion legal settlement with nearly all U.S. states.
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