---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/41556270.md"
description: "The first step is a significant increase in capex, occurring in the first 1-2 years. The second step is to continue increasing capex substantially, with free cash flow nearly exhausted or even turning negative, and dividends reduced, which is a matter for 2026. Now it seems the third step has begun. $Alphabet(GOOGL.US) wasn't satisfied with just long-term bond financing and even kicked off equity financing, and $Meta Platforms(META.US) surprisingly followed suit. It's very clear how FOMO the industry leaders are, showing a firm bullishness on AI. Considering the upcoming IPOs of three behemoths, the absorption of liquidity (whether by draining non-tech sectors, the crypto circle, or consuming macro liquidity) will be very fierce. Fluctuations in liquidity expectations will amplify market volatility. The overnight market is turbulent, just recording this."
datetime: "2026-06-05T23:33:10.000Z"
locales:
  - [en](https://longbridge.com/en/topics/41556270.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/41556270.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/41556270.md)
author: "[晓风 morning_wind](https://longbridge.com/en/profiles/6620864.md)"
---

# The first step is a significant increase in capex,…


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- [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md)

## Comments (5)

- **暂时停止 · 2026-06-06T01:23:10.000Z**: Brother Feng's risk control is still impressive. It will rebound later, you can reduce your position a bit. Wait for Brother Feng to adjust his portfolio.
- **晓风 morning_wind · 2026-06-05T23:45:10.000Z · 👍 2**: I've always been fully invested, so I can only adjust my positions.
  - **财财财** (2026-06-05T23:54:06.000Z): Bro Xiaofeng, any ideas? Which one to cut and where to move it? 😂
  - **Chann1ng** (2026-06-05T23:54:47.000Z): Put at least some into Berkshire
- **财财财 · 2026-06-05T23:38:14.000Z**: Bro Xiaofeng, are you going to top up your margin?