Meta steps on the gas, AI concept stocks collectively lie flat

What triggered the crash in the AI sector wasn't a collapse in demand.

It was actually just one sentence from Zuckerberg.

Meta's single-day plunge dragged down the entire US stock AI sector.

MU, SK Hynix, SNDX—these storage stars saw their liquidation volumes spike directly.

CoreWeave was even worse, dropping 13.92% in a single day.

The decline spread overnight to Asia, and Korean stocks opened with a circuit breaker.

Everyone is asking: Is there a problem with demand?

No.

There’s no problem with demand—it’s even still growing.

The problem is—Zuckerberg said Meta’s computing power will be leased out externally.

The lethality of this sentence is ten thousand times greater than you imagine.

Why?

Because previously, the market’s justification for giving high valuations to companies like CoreWeave was simple:

You are the "oil company of the AI era," computing power is scarce, you set the price.

Now?

Meta says: I also have computing power, and not only do I use it for myself, I also rent it to others.

Clients have become competitors overnight.

You originally came to me to buy computing power. Now you have your own computing power and are competing with me for business.

So where is CoreWeave’s pricing power? Where is its future profit growth expectation?

All shattered.

That’s why CoreWeave could drop nearly 14% in a single day—

Not because of poor performance, but because the market suddenly realized that your moat might not exist at all.

What’s even more ruthless is the chain reaction behind this.

Once Meta’s dual-track model of "self-use + external leasing" works,

Will Google follow? Will Amazon follow? Will Microsoft follow?

When every major AI company becomes a computing power lessor,

Then third-party computing and storage vendors

Will face not competition,

But survival pressure.

Do you think the AI supply chain is "the chipmakers eat meat, the computing power providers drink soup"?

Next might be "the computing power providers have even their soup bowls taken away."

Is this a short-term emotional shock or a structural restructuring?

My judgment: It’s structural.

Because this is not just Meta’s move alone.

It’s a signal:

The giants realize that computing power itself is not a moat; computing power plus ecosystem is.

When Meta both builds large models and outputs computing power,

It is actually replicating AWS’s path—

Turning infrastructure into an external business,

Earning money twice, while strangling potential competitors.

And what capital markets fear most is "profit redistribution being renegotiated."

Previously, the logic of the entire AI supply chain was "making the pie bigger together."

Now it becomes "the giants cut off the biggest piece, and the rest scramble for the leftovers."

"The AI bubble doesn’t burst on the demand side,

It bursts on the supply side with 'I want it all.'"

Zuckerberg’s stepping on the gas didn’t crush Meta’s stock price,

It crushed the valuation logic of the entire third-party computing power industry.

And the AI concept coins and computing power track tokens you hold,

If you are still telling the "selling shovels" story,

I advise you to think again:

When the shovel giant also starts mining personally,

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