AWS Up 39% YoY, Capital Spending Continues to Expand
Amazon's cloud computing service AWS posted 39% year-on-year revenue growth in Q3 2026, its fastest growth in nearly 5 years, with full-year capital expenditure estimated at 220 billion US dollars, indicating AI infrastructure expansion is continuing. The market had worried about slowing artificial intelligence demand, and the figures were seen by some investors as a sign momentum remains intact, with cloud and AI computing investment yet to recede, prompting a reassessment of whether prior expectations of weaker AI demand were overly pessimistic.
Intel Data Center Up 78% YoY
Intel's Data Center and AI unit posted 78% year-on-year revenue growth in Q3 2026, reflecting continued growth momentum in data center and related chip demand. The performance contrasted with weakness in its PC-related business, showing conditions across product lines are not in sync. Structurally, data center demand remained strong while traditional personal computer-related business faced challenges, with the divergence becoming a key focus in interpreting this quarter's earnings.
Are Traditional Business and AI Demand Decoupling
A user posted on PTT under the title “AI利空出盡？台股有機會再創新高？” arguing that weak traditional business does not mean AI demand is weakening in tandem. Citing Amazon's e-commerce business and Intel's PC-related business as examples, the user noted that while each faces different challenges, demand for AI cloud services, data centers and related chips remains strong, and the two should not be conflated. The user argued that, judging from the two tech giants' earnings, the AI industry shows no clear sign of cooling yet.
Users Divided Over Taiwan Stocks and Leveraged ETFs
The user further argued that for Taiwan's AI supply chain, the above earnings should not count as negative, and wondered whether Taiwan stocks could hit new highs and whether the long 2x ETF held could profit from it, sparking discussion. After the post, most replies remained cautious, including “Wait until margin selling is washed out, that would be real capitulation”, “It only counts as washed out after a big drop, without a big drop what washout is there”, “Leveraged speculators should act within their own means”, and “The bubble has burst, this is just the beginning”. Other users were bullish, mentioning “One of AI's big problems now is insufficient memory”, “They increase investment because they are optimistic about the future”, and “AI is just beginning, but stock prices will naturally pull back”. This material is for reference only. Investors should make independent judgments, evaluate carefully, and bear investment risks themselves.