Equities: Hyperscaler stress and chip volatility – Commerzbank

Commerzbank’s Marco Stoeckle argues that the AI trade is at a crossroads, with ‘Mag 7’ euphoria fading and hyperscalers facing cash flow and leverage concerns. In contrast, semiconductor and memory stocks, tracked by SOX and KOSPI, saw hyperbolic gains before sharp drawdowns.

Jul 25, 2026 0 0

Equities: Hyperscaler stress and chip volatility – Commerzbank

Commerzbank’s Marco Stoeckle argues that the AI trade is at a crossroads, with ‘Mag 7’ euphoria fading and hyperscalers facing cash flow and leverage concerns. In contrast, semiconductor and memory stocks, tracked by SOX and KOSPI, saw hyperbolic gains before sharp drawdowns.