WS #13134
Microsoft and Amazon earnings validate AI capex, driving a global tech rally (KOSPI +17.91%, Nikkei +4%) and countering the AI selloff narrative. The collapse of Leopold Aschenbrenner's AI hedge fund (Situational Awareness) is being cited as a potential bottom for AI stocks, with Citadel buying the portfolio. Apple falls 9%+ on memory chip shortage and services miss; Tim Cook confirms AI compute costs will be passed to consumers via iCloud+ subscriptions. Reddit plunges on record on Google AI search threat; Coinbase falls 13.9% on Q2 miss, with Oppenheimer lowering PT to $193.
AI/Semiconductor Rebound
Microsoft and Amazon earnings validate AI capex, driving a global tech rally (KOSPI +17.91%, Nikkei +4%) and countering the AI selloff narrative.
The collapse of Leopold Aschenbrenner's AI hedge fund (Situational Awareness) is being cited as a potential bottom for AI stocks, with Citadel buying the portfolio.
Apple falls 9%+ on memory chip shortage and services miss; Tim Cook confirms AI compute costs will be passed to consumers via iCloud+ subscriptions.
Reddit plunges on record on Google AI search threat; Coinbase falls 13.9% on Q2 miss, with Oppenheimer lowering PT to $193.