AM Markets Need to Know: Burry flags AI capex, Musk's xAI expands, and more

[New York City and London multiple exposure image] Stock index futures were higher on Friday while Treasury yields fell as investors focused on talks around reopening the Strait of Hormuz. Here are the five news items investors should watch: BURRY FLAGS AI CAPITAL SPENDING: Michael Burry warned that aggressive AI infrastructure investment by Microsoft (MSFT [https://seekingalpha.com/symbol/MSFT]), Amazon (AMZN [https://seekingalpha.com/symbol/AMZN]), Alphabet (GOOG, GOOGL), Meta Platforms (META [https://seekingalpha.com/symbol/META]), and Oracle (ORCL [https://seekingalpha.com/symbol/ORCL]) could eventually [https://seekingalpha.com/news/4646984-burry-warns-of-write-offs-by-hyperscalers-as-ai-spending-surges] result in significant write-offs.