Global tech stocks tumble on AI spending fears and Chinese memory chip competition

市场对AI支出和中国芯片竞争担忧加剧，全球科技股暴跌

On July 29, Korea's Kospi plunged over 10% and triggered a circuit breaker; Japan and Taiwan indexes fell about 4%, China A-shares over 2%. The immediate trigger was CXMT's nearly 500% IPO pop on Monday, raising fears that Samsung, SK Hynix, and Kioxia will lose memory-chip share. At the same time, OpenAI is close to a $500B Ohio data-center lease backed by $250B from Nvidia, and Tesla and Alphabet earnings last week exposed the scale of AI capex, making investors question returns. Moonshot AI disclosed Kimi K3 technical details on Monday, adding to US-China AI race anxiety. Microsoft, Meta, and SK Hynix report Wednesday; Apple, Amazon, and Samsung on Thursday — those will test sentiment immediately.

Why it matters: A global tech selloff, a Korean circuit breaker, and a 500% IPO pop converge into today's top story for AI hardware and investment circles. Not scored higher because market moves aren't product/tech breakthroughs, but as a signal event it clears the featured bar.