Changes in Hong Kong stocks | AI hardware stocks plummeted across the board, OpenAI's revenue decelerated in the second quarter, and losses expanded while training on cutting-edge models was suspended

The Zhitong Finance App learned that AI hardware stocks have plummeted across the board. As of press release, Cambridge Technology (06166) fell 9.9% to HK$91; GigaYi Innovation (03986) fell 8.21% to HK$475; Changfei Optical Fiber Cable (06869) fell 8.48% to HK$133.8; Zhongji Xuchuang (03308) fell 7.85% to HK$1,127.

According to reports, according to reports, OpenAI revealed to investors that revenue for the second quarter was 6.7 billion US dollars, up 18% from 5.7 billion US dollars in the first quarter. At the same time, operating losses increased further. In addition, OpenAI announced the suspension of cutting-edge model training and an upgrade of the internal security monitoring system. According to the company's current estimates, the additional computing power cost brought about by the monitoring system is equivalent to about 20% of the monitored inference computing power.

It is worth noting that as investment in AI computing power continues to expand, large US technology companies are gradually shifting from an “asset-light, high-cash flow” model to a “asset-heavy, high-capital expenditure” model. The scale of bond financing is growing rapidly, drawing market attention to the sustainability of AI debt. The analysis indicates that if the revenue growth rate of large downstream models slows down and losses expand, downstream customers may reduce their procurement expectations for servers, optical communications, and memory chips.