Rate hike odds increased after Jackson Hole. Why are big tech stocks rising in response?

I’ve generally worked under the assumption that rising yields and rate hikes would pressure hyperscaler stocks. Especially now, with so many hyperscalers resorting to debt to finance their AI capex. Hyperscalers are the primary spenders and most likely to be impacted by high interest rates. But hyperscalers are mostly higher today after Kevin Warsh’s speech at Jackson Hole even as the market is expecting a rate hike at September FOMC, which surprises me. Why are big tech companies rising when much of the rest of the market (especially semiconductor companies) is falling? My only guess is the rising rates will discourage big tech companies from borrowing further to fund AI. Reduction in ai spend (especially through debt) might be good for big tech in the near term. But even this feels a bit illogical - what if big tech just continues to spend anyway?