AI Sector Pressure, Earnings and Other Key Things to Watch this Week

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• AI trade reversal pierces star stocks across Asia

  Asia's AI trade is under pressure as a selloff in US tech stocks raises worries that higher financing costs could slow the data center spending that supports regional chipmakers and suppliers. Oil's surge to US$110 a barrel has added inflation concerns, while US chip shares had their longest rout since 2008. A Goldman Sachs basket of Asian AI hardware stocks fell 11 percent last week, with Samsung Electro-Mechanics down 23 percent and Unimicron off 14 percent. CoreWeave's shares dropped 25 percent in a week as its bonds signaled distress, and Gartner warned that more than US$3.5 trillion of AI infrastructure spending could be impaired by 2030. Still, there is little sign so far that orders have weakened.

  taipeitimes.com·18/10, 19:00▼ NVDANVDAsemiconductorsdata centers
• Why Did NVIDIA (NVDA) Rise Only 19% While Its Suppliers Did Far Better?

  NVIDIA (NVDA) closed at $217.23 on October 15 and has returned 9.52% over six months, trailing the 15.4% return of the Insider Monkey Billionaire Index and 11.4% of the State Street SPDR S&P 500 ETF Trust. Over the past year the stock rose 16.48%, while chipmaker Taiwan Semiconductor gained 43.10% and memory supplier Micron gained 360.14%. The article argues the business itself is sound: revenue in the latest quarter rose 105.9% year over year, earnings grew even faster, and operating margin stands at 66.24%. It says NVIDIA was repriced earlier in the cycle than its suppliers, whose earnings the market still treats as temporary. Shares trade at 24.88 times next year's expected earnings, against 28.51 times last year's, because earnings have climbed faster than the share price.

  Yahoo Finance·18/10, 14:34• NVDANVDAsemiconductorsvaluation
• Wall Street AI rally faces pressure ahead of Meta, Tesla and major chipmaker earnings reports

  Wall Street's AI rally faces a test as investors await earnings from Meta, Tesla, chipmakers Lam Research and Texas Instruments, and SpaceX. Recent declines in AI, chip and hardware stocks such as Dell Technologies have raised doubts about whether the rally can continue. LSEG IBES data show S&P 500 earnings are expected to rise more than 30% in the third quarter, but investors want proof that heavy AI spending will pay off. Goldman Sachs expects five hyperscalers to lift combined capital spending to around $1.2 trillion next year. The S&P 500 posted its biggest weekly fall since June but remained only about 2% below its record high.

  hindustantimes.com·18/10, 18:30▼ QQQQQQearningsAI investment
• TSMC Is Spending up to $64 Billion This Year. Here's Why That's Great News for Investors.

  TSMC plans to spend $60 billion to $64 billion this year on factories and equipment, about a third of trailing-12-month revenue, which the article presents as a sign of coming growth. CFO Wendell Huang linked the spending to long-term customer demand, including agentic AI, and said spending from 2026 through 2028 should be significantly higher than in the previous three years. Third-quarter revenue reached a record $46.7 billion, up 41% year over year, with fourth-quarter guidance of $52.3 billion to $54.3 billion, and profit margin rose to 51.1% from 45.7%. The article notes geopolitical risks in Asia and says overseas plants such as Arizona cost more to run and may weigh on future margins. The stock trades at 19 times 2027 earnings estimates, with consensus calling for 28% earnings growth next year.

  Yahoo Finance·18/10, 14:53▲ NVDATSMCsemiconductorsAI investment
• ASML is the Most Important Company in the AI Ecosystem , and It Just Delivered Record Results . Here Where the Stock Will Be in 2028

  ASML reported record third-quarter results on Oct. 14, with revenue of €11.7 billion, up 56% year over year, a gross margin of 57.5%, and earnings per share up 136% to €12.95, and it raised its full-year guidance. The company expects €14.7 billion in revenue for the current quarter at the midpoint of its range. CEO Christophe Fouquet said customers don't expect supply to catch up with demand until at least 2028, while ASML aims to raise supply by 30% in both 2027 and 2028. The article argues that concerns about AI infrastructure spending may be overblown and, assuming 45% annual earnings growth, suggests the stock could rise about 72%, though it trades at 29 times forward earnings.

  aol.com·18/10, 17:45ASMLsemiconductorsearnings
• The Trillion-Dollar AI Bet: What It Means for Hyperscaler Investors

  The five major hyperscalers, Alphabet, Microsoft, Amazon, Meta and Oracle, are expected to spend almost $780 billion on capex in 2026, up 87% year over year, and to exceed $1 trillion annually from 2027 through 2030. Financial risk is rising: Alphabet's long-term debt reached $98.2 billion, up 568% from four years ago, and Meta's was $83.7 billion; Alphabet posted negative free cash flow of $5.9 billion in Q2, Meta's free cash flow fell 91% year over year, and both have paused share buybacks. The article stresses that no one knows what returns will follow, and past spending booms such as railroads and telecom led to overbuilt capacity even though the infrastructure later enabled new businesses. Bain & Company estimates AI infrastructure spending could reach $1.5 trillion annually by 2031, and that the AI economy would need $6 trillion in yearly revenue to justify these outlays, with about two-thirds expected to come from innovation that does not yet exist.

  Yahoo Finance·19/10, 09:19▲ NVDA• AMZN• GOOGL• METAAI investmentdata centerscloud computing

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  JPMorgan will make JPM Coin, a token representing its dollar deposits, available to institutional clients on Ethereum, according to Bloomberg. The bank says Ethereum's liquidity makes it attractive to crypto companies seeking blockchain payments and to financial firms settling trades or backing tokenized assets. The move extends JPMorgan's blockchain work beyond Base and its private Kinexys network, which processes more than $7 billion daily. The bank did not say when the token will go live on Ethereum. Meanwhile, JPMorgan is among US banks planning a shared tokenized deposit network, but it was not on Swift's list of 17 banks preparing live transactions on its blockchain ledger in July.

  CoinDesk·19/10, 10:03▲ ETH/USDT• JPMJPMorganbankscrypto
• Cerrado Gold Reports 21% Year-Over-Year Increase in Q3 2026 Production Results at Minera Don Nicolas

  Cerrado Gold reported Q3 2026 production of 16,685 GEO at the Minera Don Nicolas (MDN) mine in Santa Cruz Province, Argentina, up 21% from 13,832 GEO in Q3 2025. Year-to-date output reached 44,942 GEO, up 23% from 36,432 GEO in the comparable 2025 period. Heap leach output held steady at 9,649 GEO, while CIL output rose to 7,036 GEO as higher-grade Calandrias material, generally above 2.5 g/t gold, was routed to the Martinetas mill. Laboratory tests on selected material showed gold recoveries of up to 95%, versus about 60% expected from heap leaching, and the company now expects full-year 2026 production at the upper end of its 50,000 to 60,000 GEO guidance while targeting a new PEA by late Q1 2027.

  Yahoo Finance·19/10, 10:00goldgold miningCerrado Gold
• Is Visa Stock Still a Buy After Gaining 14% This Year?

  Visa shares hit an all-time high of $401, up about 12% over the past two weeks from $359 at the end of September and up 14% year to date. Key catalysts include approval from the People's Bank of China to set up a bankcard clearing institution in China and the move of Visa Direct's stablecoin to commercial deployment on Oct. 15. Baird and BMO Capital both raised their price targets. Visa reports fiscal fourth-quarter earnings on Oct. 27 and has raised its dividend every year since 2009, last year by 14% to $0.67 per share. The author still considers the stock a buy ahead of earnings, citing a forward P/E of 24.

  Yahoo Finance·19/10, 09:42VisastablecoinsChina
• Five things to watch in markets in the week ahead

  Markets start the week with AI stocks under pressure after hotter-than-expected September inflation raised expectations of higher US rates and fed worries about debt-funded AI spending. Last week the Philadelphia semiconductor index fell 11.41% and the Nasdaq Composite lost 4.48%, with CoreWeave shedding about a quarter of its value and Oracle down 9.31%. Earnings are in focus, with SpaceX and Netflix reporting on Tuesday and Meta and Tesla on Wednesday after the close. Netflix reportedly plans to cut around 6% of its workforce, roughly 1,000 roles, its biggest reduction since 2022. SpaceX has also agreed to buy spectrum licenses from Grain Management for about $8 billion, a move into the wireless market.

  Yahoo Finance·19/10, 09:41• SPY• QQQinflationinterest ratesFed
• eMemory/PUFsecurity Showcases OCP S.A.F.E.-Approved PUFrt at OCP Global Summit, Strengthening AI Data Center Security with Caliptra

  PUFsecurity, a subsidiary of eMemory Technology, was featured at Microsoft's Caliptra Workshop on Oct. 12, the opening day of the 2026 OCP Global Summit, which drew nearly 400 attendees. Its PUFrt received OCP S.A.F.E. Scope 3 approval after an independent assessment of its resistance to physical attacks such as fault injection and side-channel attacks, and is now listed on the OCP Marketplace. PUFrt provides the physical security foundation for Caliptra, an open-source hardware Root-of-Trust architecture, from key generation to chip mass-production testing. It has already been integrated into Caliptra products from ASPEED and security systems from several memory makers and networking chip vendors. The company says the milestone advances hardware security for cloud and AI infrastructure.

  Yahoo Finance·19/10, 09:40cybersecuritydata centersartificial intelligence
• Crypto vault deposits top $10 billion as lending risks draw regulatory scrutiny

  Deposits into crypto lending vaults have risen from $4 billion at the start of last year to more than $10 billion, according to the Financial Times. Each vault is run by a 'curator' who selects lending strategies through smart contracts on DeFi platforms, sets risk limits and collects fees, with typical returns of 3% to 10% and riskier strategies reaching 20% or more. Risks include illiquid or hard-to-sell collateral, automatic liquidations, hacks and coding errors, while investors may focus on headline yields. Fintechs, digital asset treasury firms and hedge funds are among the main depositors, and Bitcoin lender Two Prime launched a vault on Pareto targeting 1.5% to 2% yields, with a minimum deposit of 5 WBTC and about $10 million of its own capital absorbing initial losses. U.S. and European regulators are examining whether existing rules should apply, and the SEC has questioned vaults that hold securities.

  CoinDesk·19/10, 09:32• AAVE/USDT• MORPHO/USDTcryptoDeFiregulation