Latest Tech Earnings Show 'AI Is Not Just Hype' -- Market Talk

0234 GMT - Recent major tech earnings show that AI is a fast-scaling business, Tiger Brokers market strategist James Ooi writes in a note. "AI is not just hype," he says, pointing to the more than 70% on-year surge in Intel's 2Q AI-related business and Google Cloud revenue soaring 82%. Still, Alphabet ended 6.9% lower and Intel fell 2.3% amid fears about mounting AI spending. The analyst acknowledges that companies tied to the AI capex buildout might be punished more than warranted. However, "today's spending can potentially serve as the down payment on the next powerful wave of earnings growth," Ooi adds. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

July 23, 2026 22:34 ET (02:34 GMT)