BlockBeats News, July 2nd. Yesterday, the news of "Meta Plans to Build Self-owned Cloud Business, Selling Surplus AI Computing Power" detonated the market, with the market interpreting it as a peak in capital expenditure for mega-scale companies. Meta soared by 8.81%, reaching a six-month high, while "shovel seller" storage chip stocks experienced a significant sell-off.

The S&P 500 closed at 7485.02, down 0.19%; the Dow Jones closed at 52305.24, staying relatively flat; the Nasdaq Composite fell by 0.66%, with the Nasdaq 100, dominated by chip and momentum stocks, plunging by 1.5% to close at 29809.13.

Some market analysts believe that the market is reevaluating the pricing logic of the computing power industry chain in a reversal. The market is concerned about the slowdown in purchases by mega-scale companies, directly impacting storage and semiconductor "shovel sellers." According to BIT (bit.com) market data, AI-related US stocks plummeted across the board:

Key stocks saw Micron closing down by 10.57%, AMD down by 6.8%, and Nvidia down by 1%.

In the storage sector, SanDisk led the decline, falling by 10.62%, while STX and WDC both dropped by over 5%.

Mid and small-cap stocks, represented by the concept of CPO, experienced a more severe decline, with GLW down by 13.62%, AAOI down by 6.18%, and MRVL down by 8.71%. AI equipment infrastructure stocks, which had performed well in the past two days, also experienced a significant retreat, with AMAT and LRCX both falling by nearly 10%.

This morning, the South Korean stock market continued its decline, with the South Korean stock index opening down 5%, subsequently triggering a circuit breaker. The Nikkei 225 index saw an intraday decline of 2.00%.

Of note, as the AI frenzy cools down, Bitcoin seems to be attracting some capital inflow, rebounding above $61,000 last night and this morning.