Alphabet raised its 2026 capex guide by fifteen billion dollars, Tesla printed its first negative free cash flow in more than two years, and IBM’s software line broke exactly where Krishna said it would in July’s letter. Same evening, three signatures.
...Memory names booked 12% Tuesday while Alphabet lost another 1.4% into its own capex confession tonight. If the AI capex bill is priced in opposite directions on the same tape, twelve hours from now the tape agrees with one side.
...Chip stocks entered a bear market on a Chinese open-weight model. Oil topped ninety on the ninth night of strikes. Equity futures bid anyway. Three tapes disagree before the bell.
...TSMC beat Q2, raised 2026 growth to above 40%, hiked capex to $60-64B, and added another $100B in Arizona. The tape sold the print. Chips bled, Netflix guided down, and the VIX finally caught up.
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