Samsung and TSMC's blowout earnings fail to ignite an AI rally! US Treasury yields hit a 24-year high, and the AI bull market faces a "computing power cash return test."

Zhitong Finance APP has learned that at a time when Samsung and TSMC have delivered strong results, the funds are revealing a pricing shift in the AI investment frenzy: investors are beginning to demand that data center operators actively prove that continued expansion of AI computing power investment can generate cash returns sufficient to cover higher funding costs. Samsung officially announced on Thursday that its preliminary operating profit for the third quarter reached 107.4 trillion won, a year-on-year increase of 782.5%, equivalent to 8.825 times the same period last year, while revenue increased by 126.59% year on year; TSMC's third-quarter revenue grew by about 51%, jointly confirming that AI infrastructure procurement remains strong. However, against the backdrop of 10-year and longer-term U.S. Treasury yields climbing to a 24-year high, persistently high energy costs, and continuously expanding financing needs among AI technology companies such as cloud computing vendors, record-breaking performance is still not enough to dispel market doubts about the sustainability of the AI computing power boom.