The current situation in the US stock market is that if you are an AI-related company with a market value of 50 billion dollars and you have a 50 billion dollar backlog, then this is a major positive. The huge certainty and profit visibility lead everyone to keep buying.


If you are an AI-related company with a market value of 500 billion dollars and you have a 500 billion dollar backlog, then this is a major negative because people think that such a high backlog probably has a lot of inflated figures. Capital expenditure is too high. Capital also becomes less interested.
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