TechFlow News, June 24: Serenity, dubbed the “White-Haired Stock God,” stated in a post that the AI capital expenditures of major technology companies should not be interpreted as “capital being drained away.” Rather, these investments are more accurately viewed as laying the groundwork for substantial future revenue growth or margin expansion. Serenity currently favors Amazon most highly, viewing it as one of the clearest AI transformation cases among hyperscale cloud providers. Amazon may leverage large language models to achieve autonomous delivery, warehouse robotics, and automation across logistics and transportation—thereby reducing operational costs. Additionally, Amazon is expanding its AWS compute infrastructure to drive revenue growth and may enter the AI chip sales market via its in-house Trainium chips.
Serenity ranks Google second among tech giants in AI strategy, noting that its AI capital spending aims to protect the moat around its search business. Meanwhile, Google Cloud—leveraging its TPU compute advantages—holds commercialization potential for AI chips comparable to NVIDIA’s GPUs. Regarding Microsoft and Meta, Serenity contends that both companies still need to demonstrate to the market the necessity of their massive AI capital investments. Recently, Microsoft’s market sentiment has weakened due to delays in its in-house AI chip Maia and the impact on AI development pace stemming from its partnership with OpenAI.
