The market is closely watching Meta Platforms' upcoming quarterly results next week to assess whether the massive capital investments by hyperscale tech companies in AI can translate into sustainable profitability. Goldman Sachs predicts that the combined capital expenditure of the top five hyperscale companies, including Meta, will rise to approximately $1.2 trillion next year. Recently, the Philadelphia Semiconductor Index has fallen 8% this month, and AI cloud computing company CoreWeave triggered financing risk alarms due to approximately $50 billion in debt, intensifying market caution towards AI trades. Meta's earnings report will set the tone for subsequent tech giant earnings and directly test the market's pricing logic for the return on AI investment.