AI支出担忧致科技股大跌，Binance遭63亿美元黑客攻击

And it was another brutal day, as I mentioned, for stocks yesterday as the Nasdaq one hundred hit its third correction of 2026 while the S and P five hundred fell 1.8%, breaching its one hundred day moving average. That drop, which was the biggest drop for stocks since June, was thanks to disappointing earnings results from some of the biggest names in technology, including Amazon, Alphabet, and Intel. Yeah. A lot of worry about big bets on artificial intelligence pervading Wall Street.

Investors, they're concerned about the potential payoff from the trillions of dollars that are being poured into AI, but there's also concerns, of course, about the health of the economy. Well, Mike Shepard is a senior editor at Bloomberg overseeing technology and strategic industries. He joins us now from Washington. Shep, great to speak with you. We've been through this a couple of times before over the course of the year, anxiety about AI, this sense of what's it gonna be leading to.

Does this time feel different? Well, it does, David, and I'm glad you kinda put it that way because this is something we have been seeing not just this week in terms of that loss of confidence among investors in the AI trade. It was manifesting itself earlier this month. We saw that spasm of concern surrounding the so called neo clouds. Those are the companies that rent artificial intelligence computing power to big AI developers.

These are the companies like CoreWeave and NCL that we've been writing about recently where investors are looking at not only their equity, but also the debt that they're taking on and questioning whether that that kind of business has the return. And the question then became, well, what about the big hyperscalers, the cloud providers like Meta, Google, and Amazon? What will their results tell us? And the tale that take from the past week and a half really has been that they are pushing ahead with all those plans for AI investment, but the underlying business, especially some of the traditional core areas like for Alphabet and like for Amazon in areas like ecommerce and advertising, that's showing more softness than investors are willing to accept at this point.

So it really is adding to all that, renewed fear and loathing about the AI trade that Lisa was talking about. Yes, I Shep. Wanted to dig more deeper into some of these specific tech stocks. You mentioned a lot of them. Let's go deal a little bit deeper on Alphabet, Google's parent company. So sales came in lower than expected. Ad sales missed, forecast as well. What stood out to you the most with their, report? One of the most interesting things was actually in the cloud division.

They brought on to the earnings call Thomas Curian, who runs their cloud, their, cloud business. And for them, that is a way of pointing to AI is actually something that will translate into results. And yet there is sort of a two edged sword to this, Lisa, and that is that as AI has become incorporated into their search, you can see the AI mode anytime you use Google now, That is making it harder for them to place and display ads, and the amount of time spent on ads or adjacent to ads is reduced.

And so that raises questions about, okay. So how do you then make money from these AI generated searches that you have been talking about? Wanna ask you about Intel as we look at a few of these companies in specific. And Intel, I believe, had its worst day since 1974 on the heels of of those earnings. We saw the company down more than 25%. What was at play here? We mentioned at the top, yes, it has to do with anxiety about AI.

It has to do with kind of economic considerations as well, and this is a company that has been trying to navigate all the supply chain difficulties we've seen other chipmakers having to figure out. This is a different pressure point that ultimately does trace back to artificial intelligence, and that is on the supply chain side as you alluded to there, David, and specifically in the area of memory chips. They've had a much harder time acquiring these components for their devices that that this would include laptops and other equipment that that Intel is trying to sell, but is having difficulty both meeting customer demand, but also keeping prices within a range of consumers would find ultimately acceptable.

And the reason that memory is so scarce these days is the AI boom. AI AI chips need memory components in them to work and to work effectively to be able to store all the data that is go... That goes into training and and the inference functions of artificial intelligence. So with with the AI boom, you see companies like Apple and Intel competing with AI developers and the AI chip makers. So without that adequate supply of memory, companies like Intel are really struggling, but they're feeling it especially because they are in the midst of this turnaround under the new CEO, Lip Bu Tan, and this is yet another hurdle.

He said he was more than a bit disappointed with the results, but also pointed specifically at the memory question as a key area of weakness and a challenge for the company. Jeff, another story I wanna ask you about is the biggest crypto heist that we've seen. We're talking about $6,300,000,000 from the crypto exchange Binance. Now I'm looking at Bitcoin right now. It's maybe up about half a percent, 77,000. But what do you know exactly about what happened in this case?

Well, we're still learning about the actual facts behind what happened. The FBI and the US Secret Service are investigating this. The total at stake is roughly $6,300,000,000, making it the largest so... Such crypto heist in history, far outpacing the last biggest, which was 1,500,000,000 from the 5 bit platform, just last year in 2025. Authorities and, observers who study the intelligence surrounding the crypto industry are pointing to North Korean hackers as possibly being responsible for it.

They have been traced to previous crypto related hacks. Binance says that it will do everything it can to make customers whole. It has actually a reserve fund that it sets aside, to be able to, act in events like this. And when you think about the size of the hack, while it sounds large, Binance has more than $137,000,000,000 in assets on hand to be able to deal with, you know, deal with circumstances like this. But we're gonna have to see going forward what this means for the crypto industry, whether it undermines confidence in it, and how it affects the regulatory picture too.

Alright. Our senior editor for technology and strategic industries, Mike Shepard joining us from Washington. Mike, thank you very much. Appreciate that update. Yeah.