Nvidia(US:NVDA) Xin Lang Cai Jing·2025-10-12 06:06Core Insights - Global trade uncertainty has not deterred companies from investing in AI, with UBS forecasting a 67% increase in global capital expenditure to $375 billion this year [1] - Capital expenditure as a percentage of sales has reached its highest level in 25 years, according to Société Générale strategists [1] - A reduction in AI spending could negatively impact chipmakers like NVIDIA and other "star stocks" in infrastructure and services that have surged due to the AI trend [1] Industry Impact - Mike O'Rourke, Chief Market Strategist at JonesTrading, suggests that a slowdown in AI investment would act like an "emergency brake" for investors, leading to many stocks entering a profit-taking phase [1] - In Europe, sectors critical to AI, such as telecommunications, power generation, and grid operators, may be the biggest losers from a decline in U.S. spending [1] - Bloomberg's custom basket tracking ten stocks, including Siemens Energy and Orange, has seen a 24% increase this year, indicating strong performance in AI-related sectors despite potential spending cuts [1]