I see Alphabet's massive 2026 capex plan as a sign of confidence, not a warning. If management believed AI demand was slowing, they would be cutting investments instead of raising them. Short-term negative free cash flow is worth watching, but it doesn't change my long-term investment thesis.

The same goes for Tesla. My thesis has never been based on one quarter of margins or cash flow. I'm investing for Robotaxi, Optimus, AI, and autonomous driving, which I believe will be the real long-term value drivers. Quarterly volatility is simply part of the journey.

To me, this pullback looks more like an opportunity than a reason to panic. History has shown that the biggest winners often go through periods of heavy investment before the returns appear. I'll continue accumulating high-quality AI leaders during weakness and stay focused on where these businesses could be several years from now, not just next quarter.