Japan's Nikkei falls more than 2% on AI spending worries

TOKYO, July 24 : Japan's Nikkei share average fell more than 2 per cent on Friday, as a sharp decline in Google parent Alphabet shares spurred concerns about heavy AI spending.The Nikkei was down 2.69 per cent at 64,634.04 as of 0112 GMT, while the broader Topix slipped 1.28 per cent to 4,002.09.The Nikkei has lost more than 7 per cent so far this month, tumbling into correction territory last week. Its moves have been heavily affected by the tech-heavy South Korean benchmark KOSPI and the U.S. Philadelphia semiconductor index.Shares of Alphabet sank 7 per cent overnight after the company reported higher spending plans while it also burned cash. Wall Street indexes closed lower, with the Nasdaq shedding more than 2 per cent. Concerns resurfaced over whether heavy spending on AI infrastruct