The focus of AI capital expenditure is shifting from “who spends more” to “who can turn commitments into cash flow.” Google’s and Meta’s moves around Anthropic show that large technology companies are not only continuing to expand data centers, but are also using guarantees, leases, and compute r…
For this rebound in AI stocks, what is most worth watching is not that fundamentals suddenly improved, but the price repair after crowded positions were forced to clear out.
Microsoft lowered its 2026 capital expenditure guidance from USD 190 billion to USD 175 billion, which on the surface looks like AI investment is cooling. But this information cannot be directly understood as Microsoft reducing the construction of data centers.
What is most worth watching in Samsung’s conference call this time is not just that it said memory demand is strong, but that it gave more specific supply arrangements. The company said it plans to allocate 60–70% of total capacity to long-term supply agreements.
The key point in Samsung’s latest earnings report is not that revenue was slightly below expectations, but that the profit side was clearly stronger. The materials show that 2Q26 revenue rose sharply year over year but was below consensus expectations, while operating profit was above expectation…
The stress test for South Korea’s stock market is shifting from “whether there will be a rescue” to “whether the rescue and deleveraging are sufficient.
The pressure on the Korean market is no longer just a single-point reaction after memory stock earnings reports. The KOSPI fell 40% from its high within 27 trading days, with both the speed and magnitude being compared to crisis periods.
What is worth noting about this pullback in U.S. stocks is not only that AI and semiconductors continue to fall, but that funds are beginning to shift more clearly toward assets with low technology exposure.
The focus of attention on Google’s AI investment is shifting from “how much more capital expenditure will be spent” to “whose balance sheet these obligations will be placed on.” Reportedly, Google agreed to provide up to USD 44 billion in lease guarantees for about 2.
The pullback in tech and AI assets is no longer just weakness in a few semiconductor stocks. QQQ has pulled back about 10% to 11% from its high, approaching a technical area where about 50% of a prior advance has been given back.