CNBC Daily Open: Amazon one-ups its rivals on capex spending, but investors are already worried over AI valuations

Group 1 - Amazon's shares fell over 11% in extended trading after reporting fourth-quarter earnings that missed expectations [1] - The company projected capital expenditures of $200 billion, significantly higher than analysts' estimates of $146.6 billion and up from approximately $131 billion in 2025 [2] - This capital expenditure projection exceeds Alphabet's estimated range of $175 billion to $185 billion, raising concerns among investors about Big Tech's spending on artificial intelligence [3] Group 2 - The tech sector experienced a sell-off, with the Nasdaq Composite dropping 1.59% and the S&P 500 declining 1.23%, influenced by high U.S. layoffs in January [3] - Some analysts, like Dan Ives from Wedbush Securities, believe the market's reaction reflects an exaggerated scenario for the sector, while others see it as a sign of market discernment [4] - Bitcoin briefly fell below $61,000, its lowest level since November 2024, before recovering to $65,208, indicating volatility in the cryptocurrency market [4]