On August 12, according to BIT (bit.com) market data, the market remained cautious and wait-and-see ahead of today's CPI release. All three major U.S. stock indices closed lower, with the Nasdaq down 0.6%, the Dow down 0.34%, and the S&P 500 down 0.32%. The S&P 500 maintained an extremely narrow intraday range for a fourth consecutive session, reflecting a market characterized by calm prices and sideway trading. Large-cap tech stocks declined for a second straight day, with the Magnificent Seven dragging on the index overall, while the Nasdaq 100 closed hovering just above its 50-day moving average. Within the AI sector, there was clear divergence, with rotation in software infrastructure and optical networking. AI semiconductors edged higher, but gains fell short of market expectations regarding the $500 billion financing framework. Earlier, Nvidia teamed up with Blackstone, Goldman Sachs, and six other Wall Street financial giants to establish a $500 billion financing platform for AI infrastructure construction. The news failed to gain market favor and instead triggered concerns over "circular financing." Google fell 3.84%, recording its largest single-day drop in nearly six months. Oracle fell 3.71%, Cloudflare dropped 1.20%, and Amazon declined 2.09%. U.S. memory chip stocks moved higher, with SK Hynix rising over 4%, SanDisk and Seagate Technology both up over 2%, and Micron gaining 0.87%.