Stephanie Aliaga

speaker

71 appearances 2 recordings 1 series first heard Jun 2026 last heard 21 Jul

Stephanie Aliaga’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.

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Bloomberg Tech · Nvidia's AI Push, Paramount's Merger Pause & China's AI Race · 21 Jul 2026 podcast

Efficiency right now is very needed, but it's a bullish indicator, I think, on overall AI infrastructure, not a bearish one, because it's gonna help the economics of all of this really work for more parties involved.

Investors should not forget the lessons learned in 2022.

Um, that you know, Chinese equities are still very, very susceptible to sudden changes on the policy front from their government and so forth.

It's the reason why we've been more cautious on Chinese equities, particularly in this AI wave.

But we continue to still have a lot of confidence in the broader EM Asia story, but really around whether

What other companies or compute providers are helping service some of that AI demand that is growing in China?

Absolutely.

It's been a really volatile last three to four weeks.

But we think that volatility has actually been healthy for the market.

You know, the digestion of what had been some meteoric gains in parts of the AI ecosystem.

And the

Um the pressure on valuations has also left things in healthier levels.

I mean the valuations for the hyperscalers right now, right, that have been singled out all of this caution and concern around ROI.

Well their valuations are trading at some of the lowest levels that we've seen since early 2023, before the AI boom was really even priced into markets.

So we think positioning is is a lot healthier today.

And I think that we may be

Near the inflection point when it comes to upward guidance on free cash flow margins.

You know, yes, CapEx has grown to a level that is likely consuming 100% of these companies' operating cash flows, but their operating cash flows are nearing $1 trillion.

And we do think that we're gonna see a deceleration in this pace of CapEx growth into next year and particularly 2028, and what our investment.

Teams have really underscored to us in their conversations with many of these companies in Silicon Valley is that across so many different cylinders, AI demand is still very red hot.

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