U.S. stock semiconductor sector plunges, Broadcom drops nearly 16%, AI chip guidance falls short of expectations. At the same time, the number of AI traders subscribing to Serenity surpasses Elon Musk to top the X platform.

This is no coincidence. Capital is withdrawing from AI hardware chip stocks and flowing into AI application layers and narrative layers. The "capital outflow" pressure felt in the crypto market is partly due to AI IPO siphoning, and partly due to internal rotation within AI investment enthusiasm.
Broadcom's below-expected guidance indicates that the market's pricing of AI computing power demand is beginning to diverge. When the most fundamental hardware logic shows cracks, capital will seek lighter carriers—such as AI agents, prediction markets, or even crypto-native AI projects.
But this is not all good news for crypto. In the short term, risk aversion in traditional markets will suppress risk appetite. Bitcoin, after rebounding to $64k, still faces support tests at $60k. Capital flowing out of chip stocks may not directly enter crypto; it could also go into bonds or cash.
Structurally, the "capital contest" between AI and crypto is entering a new phase: it’s not simply a matter of one side gaining at the expense of the other, but both are experiencing internal differentiation. Crypto needs to find its own "AI application layer" narrative rather than passively waiting for rotation.
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