GLOBAL MARKETS-Stocks slump, bonds leap as AI giants’ spending spooks investors

Tech shares slumped ?in Asia ?on Friday, while the yen rose and bonds surged toward their biggest monthly gain in nearly three years as investors scurried to safety against worries that huge and rising AI spending may not ?deliver sufficient returns. Shares in Google parent Alphabet fell 12.6% on Wall Street and slid a little further after hours, to wipe out a withering $500 billion in market value, as massive AI spending turned the company’s cash flow negative. An aftermarket plunge of 23% in Intel shares and a drop ?of 7% in Amazon stocks, as they too burn through cash,…