Bloomberg reported that Asian shares rose as regional chipmakers climbed on expectations they will benefit from billions flowing into the AI buildout, while oil extended its recent rally.MSCI's Asia Pacific equities gauge advanced 1%, with the KOSPI rising 3.6%. Samsung Electronics and SK Hynix both added more than 2% as investors bet the South Korean chipmakers will be among the beneficiaries of global AI spending.Caution lingered as Nasdaq 100 futures fell 0.3%. Alphabet slid more than 3% in extended trading after unveiling higher-than-expected capital spending plans of as much as $205 billion this year. Tesla dropped 4% and IBM edged lower after earnings. European shares were set to open lower ahead of the ECB policy decision.Oil rose as much as 2.5% to almost $96.50 a barrel, the highest since early June, after Iran-backed Houthi militants said they targeted two Saudi Arabian tankers in the Red Sea. Treasuries held losses on concerns higher oil prices will stoke inflation and prompt central banks to raise rates.eToro analyst Josh Gilbert said the increase in capex means a lot of those dollars will find their way to order books in Asia, reading it as confirmation the AI buildout is still accelerating.Alphabet now expects capital spending to reach as much as $205 billion this year, eclipsing previous guidance and far exceeding Wall Street expectations. The company is accelerating investment in AI computing capacity to meet surging demand.The US 30-year bond yield has stayed above 5% for the longest stretch since the financial crisis. The two-year note held at 4.30%. U.S. President Donald Trump vowed to hit Iranian bridges and power plants if Tehran continued attacking vessels in the Strait of Hormuz.BMO Capital Markets' Ian Lyngen said diplomatic efforts to end the Middle East conflict have effectively stalled. Money markets are pricing about a 30% chance of a Fed rate increase next week and 70% probability of a hold.