Long-term thinking is too scarce in this market; most people fall before dawn.

AI remains a long-term core opportunity, but short-term volatility is enormous. Concerns about AI’s rally turning into a bubble coexist in both global and domestic markets. Institutional selling off—driven by reductions in holdings—has caused some sectors to pull back, while retail investors continue to lose money. Despite differences in sentiment, Ma Huateng, Jack Ma, and others emphasize grasping AI’s long-term opportunity. The industry chain—from computing power infrastructure to large-model platforms to industry applications—still has broad room for growth, and the next round of opportunities will go to those who are well-prepared and keep a steady mindset.