Nasdaq slipped slightly as concerns grow over AI infrastructure investment cycles. GPU depreciation timelines (1 year) clash with hyperscaler modeling assumptions (3–6 years), raising fears of capital misallocation. However, hyperscalers like Amazon Web Services and Microsoft maintain record free cash flow and are expanding data center investments to meet rising demand. Financing from money market funds and private credit remains abundant.
Key Levels: Support 24,791.6 | Resistance 25,224.5
Investor Takeaway: RSI at 52 trending down with emerging MACD buying pressures; technical neutrality meets structural growth tailwinds.