Nvidia scaling back its OpenAI guarantee ($250B down to <$120B) while dropping ~$21B into SpaceX looks like smart risk management rather than AI weakness. AI infrastructure spending remains massive, but spreading capital into space tech diversifies downside risk.
Meanwhile, Singapore’s 24.2% export jump shows hardware demand remains robust locally, though soft earnings from SingTel and Genting show mixed fundamentals across sectors. Ahead of FOMO minutes and key retail earnings this week, staying cautious on high-debt AI vehicles while keeping an eye on core supply chain winners makes sense.
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