On Investors’ Minds - APAC Edition What's next for the AI cycle and broader market rotation?
9 snips
Feb 12, 2026 Stephanie Aliaga, a New York–based global market strategist focused on AI and market implications. She discusses tech volatility and divergence among hyperscalers. She explains why hyperscalers are ramping CapEx for AI and how capacity limits revenue. She explores which software and sectors may be exposed or resilient and Asia’s role in the AI supply chain.
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Investors As Tiger Parents
- Stephanie says investors have become 'tiger parents' expecting outsized surprises from tech.
- She uses the phrase to show how market expectations for constant beat-and-raise have grown.
Differentiate Software Winners From Losers
- Expect differentiated outcomes across software companies and avoid blanket assumptions.
- Use active selection to find software winners and avoid indiscriminate baskets punished by recent moves.
Vibe Coding Widens App Competition
- AI lowers barriers to creating applications via 'vibe coding', expanding entrants.
- This threatens application-layer software that historically relied on high barriers and per-seat pricing.