Ukraine has carried out long-range drone strikes on at least 10 logistics sites operated by Wildberries, Russia’s largest online retailer, destroying more than 9% of its warehouse space and large volumes of stored goods. Forbes Russia estimated that two attacks alone caused merchants at least $1.87 billion in merchandise losses. Wildberries’ parent group RWB reported about $73 billion in gross merchandise value last year and posted a net profit of $2.1 billion in 2025. The strikes represent tactical infrastructure attacks linked to the war and do not target global-market pillars such as energy, finance or shipping, nor do they have a direct transmission channel to the listed tradfi assets (SUS, Amazon, ONUS, COST, BE).

Microsoft said on its earnings call that it is maintaining its annual capital expenditure guidance, now listed as $175 billion after an accounting change, with spending focused on AI data center buildouts. Alphabet recently raised its capex projection by $15 billion, and Meta lifted the midpoint of its range by $2.5 billion. Google, Amazon, Microsoft, and Meta have outlined plans to spend more than $700 billion this year largely on AI data centers. Soaring memory prices can explain about 45% of this year’s capex growth at big cloud companies, earlier research found.

Apple shares rose 2%, lifting its market value to roughly $5 trillion, while Nvidia fell 5% to about $4.77 trillion, flipping their positions atop the global rankings. The move came as AI-hardware stocks remained under pressure, with the iShares Semiconductor ETF down 14% over the past month and the Roundhill Memory ETF tumbling 29%. The article also cites talks involving Nvidia and OpenAI over $250 billion in data-center financing, feeding investor concerns about overheated AI capital spending.

OpenAI has unveiled Presence, an enterprise-focused product designed to give AI agents data-governance and access-control features for use with company information. The release targets automation in customer support, sales, and internal workflows, and has intensified investor concerns about “AI eating software,” helping push the IGV software index down 3% in a single session. The selloff also hit SaaS names including Workday, Atlassian, and HubSpot. The move reflects AI providers expanding into traditional SaaS markets, without any new regulatory, macroeconomic, or geopolitical catalyst.

South Korean regulators said they will tighten trading rules for single-stock leveraged ETFs to curb excessive speculation in AI-related shares. The move helped spark a broad selloff in Asian chip stocks: Japan’s Kioxia fell 16% in a day and has halved since its June peak, erasing about 30 trillion yen, or roughly $185 billion, in market value. Taiwan Semiconductor Manufacturing Co. dropped over 5% even after reporting a 77% year-on-year profit surge, while Samsung Electronics and SK Hynix are down roughly one-third from their peaks this year; SK Hynix’s Nasdaq-listed ADR (ONUS) fell 14% on Thursday.

Major AI hardware names such as TSMC and Samsung posted earnings that topped expectations, yet their shares fell broadly, underscoring investor doubts about the durability of AI hardware profits. SK Hynix, Samsung, Micron and Marvell ADRs dropped 5%-8% in a single session, helping push the KOSPI down more than 6%. The Nasdaq 100 fell 1.32%, lagging the Dow. At the same time, the U.S.-Iran conflict intensified and risks around shipping through the Strait of Hormuz rose, but commodities did not see a sharp price reaction.

IBM sent an urgent letter to shareholders eight days before its earnings release, acknowledging a quarterly performance shortfall driven by customers reallocating capital spending toward AI hardware such as servers, storage, and memory, while cybersecurity issues also distracted clients. The disclosure has reignited analyst concerns about a “SaaSpocalypse,” with enterprise software budgets facing broader pressure as AI investment rises. The note also flagged that Palantir and ServiceNow (ONUS) could face similar headwinds.

Bank of America raised its S&P 500 second-quarter earnings-per-share forecast to $85.50, up 28% year over year and 5% above the Wall Street consensus. It also lifted its full-year 2026 EPS estimate to $345 from $335, implying 26% annual growth. The bank said Energy and Tech are the main drivers, while early reporters have delivered an 83% EPS beat rate and a 72% revenue beat rate. Cooling inflation in the latest CPI reading was cited as an additional support for earnings resilience.

Samsung Electronics is set to report earnings before the Korean market opens on Tuesday, with the market expecting an 18-fold jump in operating profit and a 127% year-on-year rise in revenue. SK Hynix has begun marketing a $29 billion US listing, with trading expected to start on July 10. Both companies are key global suppliers of AI high-bandwidth memory, and the results and IPO are seen as near-term catalysts for South Korean semiconductor stocks.