News

BlockBeats News, June 26th. According to Bitget market data, the spot price of gold once again fell below $4000 per ounce, with a daily decline of 0.68%. Silver prices plunged over 3.00% intraday and are currently trading at $56.10 per ounce.

The market capitalization of Tether is $186.06 billion, while that of Ethereum is $185.66 billion. (Cointelegraph)

BlockBeats report, June 26: With the continued impact of Micron (MU)'s earnings report, global tech stocks experienced widespread sell-offs. Major tech stocks such as Apple (AAPL) also saw significant declines, raising concerns about the profitability outlook of traditional tech giants. Analysts pointed out that although Apple has not deeply participated in the AI infrastructure capital expenditure race, it faces rising costs in the AI supply chain and pressure to adjust product prices. The market is worried that price increases may suppress end-user demand, further affecting revenue and profit performance over the next few quarters. As a result, investors have opted to take profits early. Meanwhile, the market's focus has shifted from AI computing power demand to capital returns. According to Bloomberg data, the massive free cash flow accumulated by the world's five largest hyperscale cloud service providers over the past twenty years has noticeably declined in the past two years as high-intensity AI capital spending continues. Analysts believe the current market is following a "selling shovels makes money, buying shovels faces pressure" trade logic—AI hardware and semiconductor suppliers benefit from sustained orders and see their stock prices rise, while cloud computing and internet giants that bear huge AI investments face pressure on cash flow and profitability. If AI hardware costs continue to climb in the future, and if, as Jensen Huang said, the AI infrastructure buildout cycle lasts for about ten years, who will ultimately bear the ongoing investment, and how commercialization returns are realized, will become the core challenge for global tech stock valuations.