A Russian governor said a Ukrainian strike on Novorossiysk port killed three people and wounded 24.

【现货价格】2026年08月12日讯，今日全国外三元生猪价格涨跌情况一览

Societe Generale strategist Manish Kabra’s team says recent extreme swings in semiconductors and momentum trades reflect concentrated de-leveraging and hedge fund unwind, not a synchronous weakening of AI fundamentals. They assess South Korea’s most acute de-leveraging phase is nearing an end and US momentum strategies have seen large-scale reductions. Hyperscaler cloud businesses remain in a strong upcycle in the latest results cycle; order backlogs are up about 15% and have pushed AI capital spending roughly 10% higher. The team expects AI CapEx to continue accelerating into H2 2026, with a potential peak in H1 2027. Societe Generale advises distinguishing trading-driven de-leveraging—which has cooled—from the still-expanding industrial CapEx cycle; until hyperscaler free cash flow materially improves, hardware, infrastructure and supply-chain suppliers that directly capture AI CapEx are likely more direct beneficiaries than high-spend customers.