Apollo's Slok Says AI Has Delivered Zero Payoff Outside of Tech

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• SoftBank reportedly plans $50 billion tech investment in aspiring 'AI nation' Malaysia

  Malaysian Prime Minister Anwar Ibrahim said, citing a Bloomberg report, that SoftBank Group plans $50 billion of investments in Malaysia focused on artificial intelligence, new technologies and data centers. Anwar said Son identified locations in Kuching, Sarawak and peninsular Malaysia after a video conference, as the country aims to become an 'AI nation' by 2030 under a national AI action plan launched earlier this year. Earlier this month SoftBank signed a framework agreement with Grab and Petroleum Sarawak Berhad to explore AI and digital infrastructure in Sarawak. Other tech companies are also investing: Google announced $2 billion in 2024, Amazon Web Services plans $6.2 billion through 2038 and Microsoft $2.2 billion in cloud and AI infrastructure. The Malaysian Investment Development Authority recorded 385.7 billion ringgit ($94 billion) in data center-related investments between 2021 and the first half of 2026, and SoftBank had not responded to CNBC's request for comment.

  CNBC·26/10, 04:56▲ NVDAartificial intelligenceAI investmentdata centers
• More pain may be coming for the AI trade. Why I’m not giving up on it

  The author argues the AI trade is collapsing, using Meta as an example: a large earlier rally has largely faded after the company announced a huge prospective capital raise to fund infrastructure it had expected to self-fund. He asks whether Microsoft, Alphabet or Amazon could face similar pressure, and names consumer staples such as Kimberly-Clark, Coca-Cola and Procter & Gamble as alternatives. The article also cites local opposition to data centers over water use and electricity rates, and Nvidia's support for neoclouds such as CoreWeave, Nebius and Iren, which buy its chips. CoreWeave's stock fell sharply over its high-yield debt, and its ability to service that debt was questioned as funding from the prospective IPOs of Anthropic and OpenAI remained unclear. The author maintains that AI is not going away.

  CNBC·25/10, 21:13▼ NVDA▼ QQQAI investmentartificial intelligenceNVDA
• As AI Labs Burn Cash, the Real Question Is Which Suppliers Get Paid

  Microsoft confirmed it is pulling out of a planned UK AI data center being developed by Nscale, because the electricity needed would not be available until the 2030s, while keeping its other agreements with Nscale. The article argues investors should distinguish suppliers paid for hardware, such as Nvidia and Broadcom, from operators like Oracle, CoreWeave and Nebius, which build data centers, rent capacity and must fund infrastructure while waiting for customers to pay. Nvidia has invested in more than 200 companies, while Broadcom's risk lies in customer concentration. AMD is competing with Nvidia through a deal to deploy 6 gigawatts of its GPUs for OpenAI, and it granted OpenAI warrants for up to 160 million AMD shares tied to milestones. Nvidia has also agreed to buy unused CoreWeave computing capacity under certain conditions through 2032.

  Yahoo Finance·25/10, 04:20• MSFTartificial intelligencedata centersAI investment
• Why the AI boom may pose more peril to US markets than meets the eye

  The article argues the AI boom could pose a bigger risk to US markets than it appears, drawing parallels with the 2008 crisis. A Journal of Finance study found that when borrowing and asset prices both grow rapidly in the same sector over three years, the chance of a financial crisis in the following three years rises to about 40%, compared with roughly 7% in normal times. Harvard’s Samuel Hanson said the warning lights are “flashing orange,” noting that some behaviours that marked the housing bubble are reappearing in AI investing. The IMF warned on October 13 about rising leverage in the AI ecosystem, and CoreWeave shares fell 25% that week and another 9% through October 22, leaving them more than half below their 52-week high. Columbia Business School’s Stijn Van Nieuwerburgh estimates US investment in data centres, chips, networking and power could total $10.3 trillion from 2025 to 2032, while Gartner estimates AI revenue attributable to data centres through 2030 could be no more than $3.6 trillion, versus the $8.5 trillion owners need to cover spending and a 12% return.

  businesstimes.com.sg·25/10, 03:30▼ QQQ▼ NVDA▼ SPYartificial intelligenceAI investmentdata centers
• Is the AI Bubble About to Burst? Plus, Apple Bets on Doorbells.

  The Motley Fool podcast discusses whether the AI boom is becoming a bubble and what could cause it to burst. Ray Dalio is cited as saying an AI bubble could burst in the coming period, while the host sees timing as the key question and says debt is still manageable for now. The episode notes that SpaceX is seeking another $40 billion in debt and analyzes Google's multibillion-dollar nuclear power deal with Constellation Energy and the large energy demands of data centers. It closes by discussing Apple's push into smart-home products, including doorbells, cameras and a new home hub.

  Yahoo Finance·25/10, 00:22▼ NVDA▼ QQQ▼ SPY• AAPLAI investmentartificial intelligencedata centers
• AI bear slams Nvidia's GPU pitch: 'There's not scarcity other than that which is created by Jensen Huang'

  Ed Zitron, CEO of PR firm EZPR and a critic of the AI spending boom, says Nvidia (NVDA) is creating the scarcity it sells against. He pointed to a concentrated customer base, with five companies accounting for about 70% of Nvidia's accounts receivable in the first half, and accused Jensen Huang of channel stuffing by pushing GPUs into the channel. He questioned what more data centers deliver, citing a Bloomberg report that Microsoft (MSFT) has about 2 gigawatts of AI compute online out of 12 gigawatts reported. He said OpenAI and Anthropic have become 'load-bearing' for several large companies and, asked what should happen if they falter, replied 'Let them die.' He argued that a rescue would not hold up the market, since it depends on GPU sales continuing to rise at higher prices.

  Yahoo Finance·24/10, 17:15▼ NVDANVDAartificial intelligencedata centers

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• HD Securities elects Vice Chairman of Board of Directors

  HDS has announced a resolution electing Philipp Roesler as Vice Chairman of the Board of Directors effective 23/10/2026 for the remainder of the 2025–2030 term; he was earlier elected as an independent board member via a written poll that closed on 20/10. Roesler, a German of Vietnamese descent, is founder and CEO of Consessor AG and has been a board member of Vietjet (VJC) since 8/2025. Shareholders also approved clearing and settlement services under a central counterparty model, and the company reported IPO plans to offer 121.79 million shares (11.11% of outstanding shares) at a minimum price of VND 12,252 per share, targeting at least VND 1,492.1 billion. In Q3/2026, operating revenue reached VND 1,130 billion (nearly 3x the same period), and after-tax profit was VND 615 billion; for the nine months, pre-tax profit reached VND 2,241 billion, 66% of the 2026 plan. As of 30/9/2026, total capital reached VND 27,750 billion, 4.7 times the start of the year.

  CafeF·26/10, 06:38brokeragesIPOearnings
• Houthis resume attacks on Saudi airports and oil facilities

  The Houthis in Yemen said they launched 7 ballistic missile and drone attacks on airports, air bases and oil facilities in Saudi Arabia, including King Khalid airport in Riyadh, the Rabigh refinery and Saudi Aramco sites. According to spokesman Yahya Saree, the attacks respond to Saudi operations in Yemen, where a Riyadh-led coalition carried out 100 airstrikes in 24 hours, and the group will continue until military operations end and restrictions on travel and cargo into Yemen are lifted. The attack came as Riyadh's main aviation hub prepared to partially reopen from October 25 after more than two weeks of disruption, and the Houthis warned airlines and passengers against using it. The group denied targeting Mecca and Medina, while Saudi civil defense said debris from intercepting two ballistic missiles fell in Mecca, Jeddah, Taif and Rabigh. Fighting escalated again in September 2026 after a UN-brokered truce from 2022.

  CafeF·26/10, 06:06▲ PAXG/USDT▲ XAUT/USDT▲ XAU/USD▲ PVDgeopoliticsoil pricesSaudi Arabia
• Former ‘Mekong Delta fuel tycoon’ stripped of public company status, to delist from UPCoM from 29/10

  HNX has decided to cancel the trading registration for about 126.2 million PSH shares of Nam Song Hau Petroleum Investment Trading JSC (NSH Petro) on UPCoM, with 28/10 as the last trading day and delisting effective 29/10. The move follows the State Securities Commission's (SSC) 14/10/2026 letter revoking PSH's public company status. Before this, PSH had received a warning, trading restrictions, and a trading suspension, and was fined VND 92.5 million on 06/10 for delayed disclosure of multiple documents. The company had been hit by a tax penalty with invoice enforcement since late 2023, and its tax debt was still over 1.25 thousand billion VND at the end of 2025; without invoices, it could not operate and its revenue kept falling. According to filings, PSH posted a consolidated after-tax loss of nearly VND 301 billion in Q2/2026, up from a loss of over VND 158 billion a year earlier, while the parent company again reported no revenue.

  Vietstock·26/10, 06:02fuel pricestaxesearnings
• Market Pulse 26/10: Slipping below reference level, market diverges sharply

  VN-Index fell 1.37 points (-0.08%) to 1,772.78 and HNX-Index dropped 0.33% to 261.84 as the market slipped below its reference level at the midday break. Breadth leaned toward sellers, with 356 stocks declining, 235 advancing and 953 unchanged. VIC and GAS were the biggest positive contributors to VN-Index, adding a combined 6.39 points, while VPL, VCB, VPB and HDB weighed on the index with a combined 1.92 points. Foreign investors net sold VND 461.19 billion across the three exchanges, led by FPT at VND 80.02 billion, while VIC led net buying at VND 43.6 billion. Banking stocks came under pressure after reports that private lenders such as VPBank had cut deposit rates by a further 0.4 percentage points.

  Vietstock·26/10, 06:02▼ VNINDEXVNINDEXforeign investorsbanks
• Afternoon session technical analysis 26/10: Continued divergence

  Based on data up to the close of the morning session on 26/10/2026, the technical analysis says VN-Index continued to consolidate with a near-Doji candle, signalling hesitation among investors. The index remains above the Middle line of the Bollinger Bands and is testing the 50-day SMA, while MACD keeps rising after crossing above its signal line and the Stochastic Oscillator continues to climb after leaving oversold territory. HNX-Index is also consolidating, with a small-bodied candle with a long upper shadow pointing to persistent selling pressure, and is testing the Middle line of the Bollinger Bands. The article notes that if the positive technical signals hold, the short-term outlook could improve, and stresses that the conclusions are for reference only and may change once the afternoon session closes.

  Vietstock·26/10, 06:01• VNINDEXVNINDEXtechnical analysisHNX-Index
• Defense tech investment boom sparks bubble warning as private equity pours in

  Private equity firms are pouring billions into defense technology as rising military spending and geopolitical tensions fuel an investment boom. According to PitchBook, private equity growth investments in defense reached $4 billion in the first nine months of 2026, up from $500 million in 2024. Analysts say private capital will become increasingly important in bridging the gap between innovation and industrial-scale production, as venture capital alone may not be enough. Advent International, which has deployed roughly three-quarters of its $1 billion defense technology commitment, says many companies are valued on technological promise rather than revenue, and a correction may be inevitable. Weinberg Capital Partners, by contrast, still focuses on profitable defense suppliers with established products and positive cash flow rather than early-stage startups.

  CNBC·26/10, 06:00• QQQ• SPYdefensevaluationasset bubbles