During trading on October 15th, the stock prices of several individual companies in the infrastructure sector of A-share AI weakened.
As of 11 a.m., among optical module manufacturers, Zhongji Xuchuang (300308. SZ) fell by 4.6%, Xinyisheng (300502. SZ) fell by 4.84%, and Tianfu Communication (300394. SZ) fell by 2.52%. The combined market value of the three companies decreased by 66.2 billion yuan.
NVIDIA concept stock Industrial Foxconn (601138. SH) fell 3.16% during the session. Among storage manufacturers, ChangXin Technology (688825. SH) fell 3.54%, GigaDevice Technology (603986. SZ) fell 4.81%, Jiangbolong (301308. SZ) fell 4.1%, Baowei Storage (688525. SH) fell 4.18%, and Shannon Chip Creation (300475. SZ) fell 5.87%. Among chip manufacturers, Cambricon (688256. SH) fell 3.88%, Muxi Co., Ltd. (688802. SH) fell 4.23%, and Moore Threads (688795. SH) fell 3.85%.
Many AI infrastructure supply chain companies in the A-share market supply components to overseas data centers. On October 14th local time, related sectors in the US stock market also faced selling pressure. At the close of trading, NVIDIA (NVDA.O) fell 3.16%, AMD (AMD.O) fell 5.73%, Broadcom (AVGO.O) fell 3.1%, Intel (INTC.O) fell 4.56%, TSMC (TSM.N) fell 3.4%, and ASML (ASML.O) fell 3.94%. Among storage stocks, Micron Technology (MU.O) fell 4.08%, Western Digital (WDC.O) fell 4.36%, and SanDisk (SNDK.O) fell 5.33%.
In addition, the US AI cloud computing company CoreWeave ( CRWV.O ) fell 15.46%, and Oracle ( ORCL.N ) fell 8.83%. Among the leading tech companies in the US stock market, Meta ( META.O ) fell 3.27%, Tesla ( TSLA.O ) fell 2.15%, and Amazon ( AMZN.O ) as well as Google's parent company Alphabet ( GOOGL.O ) both fell 1.74%.
On the surface, U.S. inflation data in September exceeded expectations, leading the market to bet on a Fed interest rate hike. With inflation rates remaining high, financing costs may increase, raising the cost of data center construction. Investors' concerns about the boom in tech companies taking on debt for AI have also grown.
Steve Sosnick, the chief strategist at Yingtou Securities ( Steve Sosnick ), stated that the current stock prices in the chip sector have already fully reflected a large number of positive news factors. Without new catalysts, the sector is likely to fall into a period of volatile weakness.
In addition, domestic storage manufacturer ChangXin Technology recently announced a technological breakthrough, which has also attracted attention in the overseas market. Some market analysts believe that this may impact the leading position of overseas storage companies. ChangXin Memory, a core subsidiary of ChangXin Technology, has a 4F2 DRAM (dynamic random access memory) architecture that is expected to be applied in the new generation of DDR5 RDIMM products by the end of the year.
However, despite the concerns in the capital market, some market research institutions have recently predicted that large cloud providers will increase their capital expenditures on AI infrastructure.
According to the latest report released by TrendForce TrendForce on October 14th, with hyperscale cloud service providers (CSP) increasing their investment in servers and AI infrastructure, it is estimated that the total global CSP capital expenditures of the top nine providers in 2026 will exceed $957 billion, a year-on-year increase of 106%. In 2027, this figure is expected to surpass $1.5 trillion, representing a year-on-year growth of 60%.
