Tencent Technology

Storage giants achieve record high performance, but stock prices plummet overnight: SK Hynix and Samsung fell over 13%, Micron dropped nearly 9%, with a combined market value evaporating by nearly $43 billion. "Big short" Michael Burry publicly shorts, and South Korea's super expansion plan triggers fears of oversupply.

Intel's Q2 revenue reached $16.1 billion, a year-on-year increase of 25%, setting a new high in 14 years; the data center business surged by 59%, achieving profitability for four consecutive quarters, and rose 11% in after-hours trading. The foundry business is accelerating, and the 18A yield is improving, with full-year Capex raised to $20 billion.

DeepSeek's first round of external financing exceeded 50 billion yuan. Liang Wenfeng stated that open source does not affect revenue, and the domestic chip ecosystem can catch up within a year, but computing power still lags behind the United States by 12 to 18 months.

Abandoning TSMC and teaming up with Samsung. Anthropic launches a self-developed 2nm chip program, challenging Nvidia and starting a battle to break through computing power costs.

The government successfully inserted itself as an approver between commercial AI models and their users for the first time.

SpaceX set a record with its IPO, spending a staggering $60 billion to acquire the popular AI programming unicorn Cursor just four days later. Musk is using the ultimate puzzle of "super computing power + top coding engine" to propel the market value skyrocketing, surpassing Amazon in one fell swoop.

The sudden removal of the two models has caused widespread shock in the tech industry and the AI community.

Oracle's revenue for fiscal year 2026 set a record, with AI cloud orders soaring to $638 billion, but massive capital expenditures on computing power led to negative free cash flow, causing a 5% drop in after-hours stock price.

The entire industry supply chain—from wafers to packaging to silicon photonics... everything is in short supply due to such high demand. This situation will last for several years.

The demand for computing power and storage by AI may indeed be structural, and LTA may have truly rewritten the industry rules; a trillion-dollar market value may just be the starting point.