To The Moon

This anxiety is spreading from traditional software into the $10 trillion information services market, including finance, real estate, logistics, and law. If $700 billion in annual AI investment starts disrupting these sectors, the consequences are real

Exciting, won a lot

The deeper concern lies in business models. The core SaaS logic of seat-based pricing is facing potential disruption

The S&P 500 and the Nasdaq rose solidly after a shaky start on Monday (Feb 9), as technology stocks found their footing following last week's AI-sparked selloff, while investors waited for key economic data that could shed light on the Federal Reserve's interest-rate path.

Singapore's economy grew 6.9% in the fourth quarter of 2025 from a year earlier, government data showed on Tuesday, higher than an official advance estimate of 5.7%.

Major U.S. equity indexes finished a volatile week mixed, as large-cap technology stocks suffered their worst week since November while small-cap and value-oriented stocks added to their year-to-date gains. Worries about the disruptive potential of artificial intelligence (AI), as well as concerns regarding potential overinvestment in the technology, weighed on many of the high-growth stocks that have outperformed in recent years. In contrast, some cyclical and value-oriented segments outperformed as investors seemed to rotate into the areas that have lagged firms with more AI exposure. Corporate earnings and geopolitical tensions also appeared to contribute to the week’s volatility.

1. Strong fundamentals Net profit in the second half rose 27.2%, bringing full-year earnings to S$1.1 billion. Its infrastructure and connectivity segments performed exceptionally well, aligning perfectly with the current AI data-center boom. 2. Attractive dividends Total dividend for the year reached S$0.47, including a special payout. In today’s environment, a ~4.3% yield combined with growth potential looks compelling.

There are two prevailing narratives regarding this Capex explosion: The Cloud Provider Logic (AMZN, GOOG, MSFT) Their infrastructure spending is backed by actual B2B customers. As long as the cloud market expands, this Capex builds a massive competitive moat. The Consumer Monetization "Ghost Story" (META, AAPL, TSLA) These companies must recoup their AI billions one or two dollars at a time from individual consumers. If the "AI killer app" for consumers doesn't materialize, this Capex becomes a heavy drag on the balance sheet.

Before looking ahead, let’s review how the three local giants diverged in 2025—a key factor driving current market sentiment: DBS surged 28%. Fueled by high dividend visibility and a boom in its wealth management segment, it was the undisputed market leader. OCBC rose 19%. Investors were optimistic about its wealth management prospects and potential for further capital returns. UOB fell 4%. The laggard of the group, weighed down by earnings disappointments and concerns over asset quality (particularly US and Greater China real estate exposure).

TSLA, very smart and stable approach