Back in January 2015, $Alphabet(GOOGL)$ and Fidelity collectively invested US$1 billion in $SpaceX(SPCX)$ , then valued at around US$10 billion. Few investors could have predicted how unusual the relationship would become. Today, Alphabet is both a major SpaceX shareholder and a customer paying for computing capacity through a separate commercial agreement. That creates an interesting situation: Google is benefiting from SpaceX’s potential growth as an investor while also relying on its computing infrastructure to support AI demand. But with SpaceX’s valuation coming under pressure, is this strategic relationship becoming a financial risk for Alphabet? 1. Alphabet’s SpaceX investment has grown

$Microsoft(MSFT)$  has invested heavily in OpenAI, positioning itself as one of the biggest beneficiaries of the artificial intelligence boom. But the latest financial figures raise an uncomfortable question: has Microsoft backed the right AI company? According to figures reported by The Wall Street Journal, OpenAI recorded adjusted operating losses of US$10.9 billion in the third quarter, despite revenue growing approximately 50% from the previous quarter. Meanwhile, rival Anthropic reported an adjusted operating profit margin of 15%, with a long-term target of 35%, according to its IPO filing presentation. The contrast is attracting attention because the AI race is no longer just about developing the most powerful models. Investors inc

$Alibaba(BABA)$ November 19 earnings report could be an important moment for investors trying to understand the company’s transformation from a traditional e-commerce giant into a major AI and cloud computing player. For years, Alibaba’s investment story was closely linked to Chinese consumer spending, Taobao and Tmall. Now, artificial intelligence is becoming a much bigger part of the picture. The question is whether this new growth engine can deliver sustainable profits while Alibaba manages competition in its core e-commerce business and the rising cost of AI infrastructure. Here are five things I will be watching. 1. AI revenue: Can triple-digit growth continue? Alibaba’s AI business has been one of its strongest growth areas. In the firs

I would lean towards Team Balanced. Tesla should not keep producing the Cybertruck simply to maintain product diversity if demand and margins do not justify the investment. However, abandoning it too quickly could disappoint existing customers and waste the resources already committed to the programme. The Cybercab and Robotaxi opportunity may offer greater long-term scalability, but autonomous driving still faces regulatory, safety and commercial challenges. Tesla needs to prove that its technology can operate reliably and generate sustainable revenue before making it the main priority. My view is that Tesla should protect the value of its existing vehicle business while gradually shifting investment towards autonomous mobility. The key is execution, not just ambition.

The technology sector staged a strong comeback on Wednesday, with the Nasdaq-100 ETF $Invesco QQQ(QQQ)$ gaining 2.31% despite firmer-than-expected October inflation data. One of the biggest moves came from $CoreWeave, Inc.(CRWV)$ , which surged 24.71% during regular trading. Memory stocks and several semiconductor companies also recovered. After recent volatility, investors appear willing to look beyond short-term concerns and focus again on the long-term demand for artificial intelligence. However, the rally still faces several important tests. 1. AI demand is encouraging, but revenue matters more than headlines CoreWeave’s sharp gain reflects renewed confidence in AI infrastructure spending. De

$NVIDIA(NVDA)$ biggest uncertainty may no longer be about chip demand or competition. It is about leadership. Shares rose 2.92% during Wednesday’s regular trading session, but fell sharply after hours following reports that Nvidia’s board was discussing Jensen Huang’s future as CEO. The shares last traded around US$158.78, down approximately 8.61% from the regular-session close. The reports have raised an important question: What would Nvidia look like without the person who built it into an AI industry powerhouse? 1. Why Huang’s departure would matter Huang co-founded Nvidia in 1993 and has led the company for more than three decades. Under his leadership, Nvidia transformed from a graphics-chip manufacturer into a dominant supplier of AI co

$NVIDIA(NVDA)$  leadership uncertainty is creating an interesting shift in the semiconductor market. While Nvidia shares plunged around 9% in after-hours trading on Wednesday, $Advanced Micro Devices(AMD)$  gained more than 4% and $Broadcom(AVGO)$  advanced over 2%. Investors appear to be looking beyond Nvidia and considering which companies could benefit if customers begin diversifying their AI chip suppliers. But AMD and Broadcom are not competing with Nvidia in exactly the same way. Each has a different position in the AI infrastructure market, and both could benefit from the next phase of AI spending. 1. AMD: The direct challenger

After weeks of nervous trading, AI-related stocks finally delivered a powerful rebound on Wednesday. $CoreWeave, Inc.(CRWV)$  surged nearly 25%, $NEBIUS(NBIS)$ climbed 15.4%, and semiconductor and optical technology stocks recorded strong gains. The $iShares Semiconductor ETF(SOXX)$ also rose 6%. Even $NVIDIA(NVDA)$ recovered almost 3%. What changed? Investors received some reassurance from CoreWeave’s earnings call, particularly around its funding requirements, profitability plans and the economics of running AI cloud infrastructure. This matters because CoreWeave has become an important part of the

$Advanced Micro Devices(AMD)$  shares jumped 13.26% on Monday, November 9, after the company confirmed that its EPYC processors will supply host CPUs for Google’s Cloud TPU 8tx systems. This is an important development because it gives AMD another opportunity to benefit from the expanding AI infrastructure market. While Nvidia remains closely associated with AI GPUs, the latest announcement highlights another part of the data centre: the CPUs that help manage and support AI computing workloads. However, there is an important difference between winning a major customer deployment and generating meaningful financial returns. Investors should look beyond the share-price reaction and focus on evidence that the partnership is translating into

The recent recovery in AI-related stocks has given technology investors some relief after a period of heavy selling. Semiconductor, optical communications and memory stocks have attracted renewed buying interest, raising hopes that the rebound could spread to Hong Kong-listed technology companies. However, the recovery is not as straightforward as it looks. $NVIDIA(NVDA)$  remains under pressure, US inflation has come in hotter than expected, and investors are still questioning how much of the AI boom is already reflected in share prices. For Hong Kong investors, the key question is whether this rebound signals a genuine improvement in market sentiment or simply a short-term recovery after an oversold period. 1. The AI supply chain is sh

I would look for evidence that AI expansion is translating into sustainable revenue growth, improving profit margins and stronger free cash flow. Rising customer demand and repeat business would also be important, rather than relying on short-term hype or large spending commitments. Most importantly, the company should demonstrate that returns from AI investments are growing faster than the cost of building and maintaining the infrastructure. Growth is exciting, but profitable growth is what creates lasting shareholder value.

Hong Kong technology stocks are entering an important period. After a difficult year, valuations have come under pressure, but fresh developments in China’s AI industry are giving investors new reasons to pay attention. Alibaba’s $BABA-W(09988)$ plan to spin off its chip subsidiary, T-Head (Pingtouge), for a separate Hong Kong listing is one of the biggest developments. At the same time, US inflation and interest-rate uncertainty continue to influence global technology shares. The question is whether current prices offer an attractive entry point or whether investors should wait for clearer signs of a recovery. 1. Alibaba’s Pingtouge spin-off could unlock value Alibaba has confirmed that its semiconductor subsidiary T-Head has confidentially

$NVIDIA(NVDA)$ latest sell-off has raised a difficult question for AI investors: is this simply a short-term pullback, or are concerns about the company’s leadership, competition and valuation beginning to challenge its market position? Nvidia fell 5.47% on Tuesday, adding pressure to a stock that has become one of the most important drivers of the AI market. Three issues are weighing on sentiment: reported board scrutiny, a shareholder lawsuit and concerns about interest rates following hotter-than-expected inflation data. However, it is important to separate the facts from the market reaction. The shareholder lawsuit contains allegations, not proven findings. It was also filed after Monday’s market close, so it cannot explain Monday’s intra

The US technology market is facing another test. After attempting to recover from recent volatility, the Nasdaq 100 ETF $Invesco QQQ(QQQ)$ fell 0.68% on Tuesday as October inflation came in hotter than expected. The latest CPI figures have raised concerns that inflation may not be cooling quickly enough to give the Federal Reserve room to ease monetary policy. But is this the beginning of another technology sell-off, or just a temporary setback? 1. Inflation is proving harder to control October headline CPI increased 0.4% month-on-month, above the 0.3% forecast, although lower than the previous month’s 0.6%. Core CPI, which excludes food and energy, rose 0.3%, also above the 0.2% expectation. This is particularly important because core inflati

$NVIDIA(NVDA)$ fell 5.47% on Tuesday, putting pressure on the wider AI trade. The decline came amid several concerns: a reported board investigation, a shareholder lawsuit filed after Monday’s market close, and hotter-than-expected US inflation that increased pressure on interest-rate-sensitive technology stocks. The combination has made investors more cautious. However, I don’t think the latest decline should automatically be interpreted as evidence that Nvidia’s AI business is losing momentum. There are three separate issues worth examining. 1. Governance concerns: Nvidia needs to restore confidence The reported board investigation and shareholder lawsuit have added uncertainty around Nvidia’s corporate governance. It is important to distin

Anthropic is preparing for one of the biggest technology IPOs in history. The company behind Claude AI has set an indicative price range of $70–$78 per share, with its planned Nasdaq ticker symbol ANT. The proposed valuation is attracting attention because earlier expectations had reportedly reached $2 trillion. After the recent sell-off in technology and AI stocks, the lower price range may look more attractive. But does that make Anthropic a bargain? I think investors need to look beyond the headline valuation. 1. Extraordinary revenue growth Anthropic’s growth figures are impressive. Third-quarter 2026 revenue reached approximately $17 billion, compared with $1.4 billion in the same quarter last year. That represents more than 12 times year-on-year growth. Even more striking, its Octobe

My vote: A – SiTime (SITM). SiTime deserves the closest watch because its precision-timing technology is becoming increasingly important for AI data centres, high-speed communications and advanced computing. Its Q3 2026 revenue increased 257% year-on-year to $298.7 million, while non-GAAP gross margin reached 70.7%. However, part of that growth came from its acquisition of Renesas’ timing business, and supply constraints remain a risk. The metric that would change my mind is organic revenue growth and operating cash flow. I want to see whether demand is sustainable, margins remain strong and the business can convert growth into cash. Adobe’s AI monetisation, Marvell’s acquisition benefits and Visa/Mastercard’s payment volumes are also worth monitoring, but SiTime’s exposure to AI infrast

I would choose chip suppliers for the fastest and most direct conversion of rising demand into cash. Companies such as Nvidia and TSMC can generate revenue as customers place orders for chips, without having to finance and operate entire data centres. Cloud operators have strong long-term potential, but their heavy spending on infrastructure can delay free cash flow growth. Launch providers have a different challenge: high development costs, lengthy contracts and the time needed to scale operations. That said, I would distinguish revenue growth from actual cash generation. For chip suppliers, I would watch order growth, gross margins and customer concentration. For cloud operators, I would focus on operating cash flow relative to capital expenditure. My ranking for near-term cash conver

My vote: C – Trade sideways (-1% to +1%). Friday closing prediction: 24,850 The Nasdaq started the week with a strong 2.7% rebound on Monday, but the hotter-than-expected October CPI has weakened the recovery. Headline inflation rose 0.4% against expectations of 0.3%, while core CPI increased 0.3%, also above forecasts. This keeps interest-rate concerns in focus. I expect volatility to remain elevated through Friday. I would avoid chasing the rebound in Nvidia, AMD or Tesla and wait for better entry points. I would also watch Friday’s PPI data and Thursday’s earnings from Applied Materials and Cisco for further clues about inflation and technology demand. A strong recovery needs more than one good trading session. I want to see improving market breadth, stabilising prices and sustained

I would choose C – Keep the cash and wait for better opportunities. Berkshire does not need to rush into investments simply because it has a large cash reserve. At current valuations, patience can be a competitive advantage. I would rather earn a reasonable return on short-term investments while waiting for quality businesses to trade at more attractive prices. However, I would also consider selective share buybacks if Berkshire’s stock trades below a reasonable estimate of its intrinsic value. The priority should be protecting shareholder value, not deploying cash just to put it to work.