Goldman Sachs data cited by BlockBeats show global technology stocks saw about $20 billion in net selling over the past two weeks, with selling intensity at -3.3 standard deviations. TMT selling approached July’s $23 billion, while the Nasdaq 100–S&P 500 volatility spread reached the 98th percentile of its five-year range.
AI funding moves into focus
BlockBeats cited JPMorgan as saying AI infrastructure debt financing has topped $500 billion this year and that hyperscaler funding costs have risen about 120 basis points. Upcoming Google, Microsoft and Amazon results will test whether heavy AI capital spending is translating into revenue and whether expansion can be financed sustainably.
JPMorgan also flagged financing links between Nvidia and GPU operators as a possible channel for credit stress if operator funding tightens. The bank remained constructive on technology fundamentals while identifying funding conditions and earnings delivery as key signals.
Source: BlockBeats, 2026-10-26 14:37:53 UTC.