It's no secret that AI is a hog, consuming energy and water like no digital technology before it. Now we know just how much Big Tech's pursuit of AI is costing the environment.

Amazon says it has deployed enough satellites to launch its Leo commercial service later this year. Leo will compete with SpaceX's Starlink, which was created four years before Amazon's announced its entry into the market, and has more than 10,000 satellites in its constellation.

Amazon already plays major roles in consumers' shopping, entertainment, smart-home, and cloud-powered digital activities. SpaceX is using Starlink's broadband and direct-to-cell technology to move closer to consumers.

Amazon's stock held up reasonably well in recent months in spite of the growing fears around hyperscalers' skyrocketing capex figures. The business performs well, and this could now lead to a short-term market overreaction to broader industry long-term problems. Investors should also keep a close eye on the two major short-term risk factors that I outlined earlier this year.

Competition with SpaceX's Starlink satellite network is expected to begin in earnest later this year.

Strong industry trends don't guarantee strong returns.

My Amazon (NASDAQ:AMZN | AMZN Price Prediction) call is straightforward.

Venu Krishna went on CNBC's Closing Bell Overtime on June 30 and argued that the money fleeing Big Tech is running the wrong direction.

Dow posted its best first-half gain since 2021. CSCO, CAT, V, KO and AMZN are five blue-chip stocks highlighted for potential second-half momentum.