Market sources: Alphabet (GOOG.O) is considering issuing HKD- and SGD-denominated bonds as early as this month.

AI服务需求最终将决定数据中心投资规模。只要需求持续增长，数据中心建设最终仍将推进，但成本上涨和工期延误可能使扩张速度放缓，并造成局部供应缺口，大规模供应过剩的风险相对较低。 美国中期选举进一步增加了新增项目的不确定性。德克萨斯州当选州长Gina Hinojosa曾承诺，在州议会出台社区保护措施前暂停新数据中心审批。若相关政策落地，部分新增项目可能面临审批放缓甚至停滞。在此背景下，已经取得许可、锁定电力接入容量并签订长期供电及设备采购合同的项目，其稀缺性和竞争优势可能进一步提升，形成新的行业护城河。 微软、Meta、亚马逊和谷歌等超大规模云服务商有望受益于现有数据中心容量的价值提升及定价权增强。此外，如果2028年资本开支预期下调，大型云厂商的自由现金流也有望改善，此前因AI投资过高而承压的估值可能获得修复。

At 1700 local time on the 8th (2300 Beijing), Israeli President Herzog authorised former IDF chief of staff and party leader Eisenkot to form a new government after Eisenkot received 67 Knesset recommendations. The authorisation does not guarantee a parliamentary majority: the Knesset has 120 seats and the coalition threshold is 61. Eisenkot must now negotiate coalition policy and cabinet posts with potential partners. Under Israeli law the authorised lawmaker has 28 days to form a government; the president may extend that period by up to 14 days. If he fails, the president may mandate another lawmaker 28 days to try, without further extension.