Meta "causes" tech stocks to plunge? Industry insiders: Overcapacity in computing power is a misinterpretation

Odaily Planet Daily reported that A-share tech stocks experienced a sharp decline, with sectors such as semiconductors, computing hardware, and memory chips suffering significant losses. Taking the "ChiNext and STAR Market," where tech stocks are concentrated, 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 drop in A-share tech stocks stemmed from Meta's announcement of selling computing power, which was interpreted by the market as an oversupply of computing capacity. However, several industry insiders believe that this news represents a misinterpretation. Meta's sale of computing power does not signify the end of AI capital expenditure but rather indicates the maturity of the AI infrastructure business model. (Securities Times)