AI capex just flipped from the bull case to the bear case. Alphabet fell 6% to 7% even with 24% revenue growth and an 82% jump in Google Cloud sales, because a $15B increase in full-year capex guidanc

What happened: Chip stocks fell on fears about A.I. spending and rising Chinese competition. South Korean stocks dropped sharply after reports of a breakthrough by a Chinese chip rival. Why it matters: The reports heightened concerns about competition for chipmakers, adding pressure to a sector already weighed down by A.I. spending worries. Coverage: 3 outlets in 24h

Chip stocks fall on AI spending fears and rising Chinese competition.

Chip stocks fall on AI spending fears and rising Chinese competition. — impact context not separately stored; see What changed.