Meta "causing a crash" in tech stocks? Industry insiders: Overcapacity in computing power is a misinterpretation

Odaily Planet Daily News A-share tech stocks plummeted, with sectors such as semiconductors, computing hardware, and memory chips experiencing significant declines. Taking the "ChiNext and STAR Market," which are heavily populated with tech stocks, as an example, the ChiNext Index and the STAR Composite Index fell by 5.71% and 5.64%, respectively. According to market conditions, the sharp decline in A-share tech stocks stems from news that Meta is selling its computing power, which the market interpreted as an overcapacity in computing power. However, multiple industry insiders believe this news is a misinterpretation. Meta's sale of computing power does not signify the end of AI capital expenditure, but rather indicates that the business model for AI infrastructure is maturing. (Securities Times)