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BlockBeats News, June 8th, as strong non-farm payroll data boosted the market's expectations for a Fed rate hike, Wall Street began to warn that what could truly end the current AI-driven bull market is not deteriorating fundamentals, but rather the ongoing rise in funding costs. On Friday, the US added 172,000 non-farm jobs in May, far exceeding market expectations, driving up expectations of a Fed rate hike later this year. As a result, the Nasdaq plummeted over 4% in a single day, the Philadelphia Semiconductor Index plunged 10%, marking the largest single-day drop since 2020, and the total market value of US stocks evaporated by about $2 trillion. At the same time, multiple risk indicators continue to rise. Goldman Sachs projects that AI capital spending by Meta, Microsoft, Amazon, and Alphabet will reach $5.3 trillion between 2025 and 2030; Citigroup's Global Bear Market Warning System has seen 10 indicators flashing red, the highest level since the 2008 financial crisis. The market is also concerned that as companies like SpaceX, OpenAI, and Anthropic make successive impacts on the capital markets, the AI concept valuation bubble is further expanding. Driven by the "Fear of Missing Out" (FOMO) sentiment, the performance of some tech stocks has clearly deviated from their fundamentals. Reuters columnist Jamie McGeever pointed out that historical experience shows that economic expansions and stock market bull runs usually do not naturally come to an end but are often terminated by Fed tightening. Against a backdrop of high inflation, robust employment, and still accommodative financial conditions, the rise in funding costs could become the biggest risk factor facing the AI frenzy.

Glonghui, June 8 – The S&P 500 Index and Nasdaq 100 Index pulled back from their intraday highs and are now up 0.7% and 2%, respectively.

Gelonghui, June 8｜Italian technology company Bending Spoons, renowned for acquiring and restructuring distressed software firms, has officially filed for an initial public offering (IPO) in New York, USA. According to the prospectus submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, the Milan-based company achieved a strong performance turnaround in the first quarter of 2026. During the reporting period, the company recorded revenue of 601 million USD and a net profit of 27.5 million USD. In the same period last year, its revenue was 259 million USD with a net loss of as much as 112 million USD. According to informed sources, Bending Spoons is seeking an IPO valuation between 20 billion and 22 billion USD.