Ipek Ozkardeskaya, an analyst with Swissquote Bank, pointed out that TSMC's upward revision of its capital expenditure forecast could potentially stir up market anxieties, sparking a sell-off in tech stocks. She noted that despite TSMC achieving a record-high profit in the second quarter, its stock price failed to surge, a sign that the market perceives chip stocks as already overvalued. Given the looming risk of overcapacity, investors are growing increasingly apprehensive about the extensive AI infrastructure build-out, even as tech firms persist in ramping up their spending. Major U.S. tech companies are set to unveil their earnings reports next week, which are anticipated to bolster the recently lackluster market sentiment. Nonetheless, there are indications that companies such as Alphabet are further escalating their infrastructure investments, a move that could potentially exert additional downward pressure on stock prices.