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My current view of the market, whether it's A-shares or U.S. stocks, is based on one perspective: the AI infrastructure sector has been in a five-year bull market since 2021.
Basically, no significant achievements have been seen on the application side.
If there are applications with performance and results, they will continue to push AI infrastructure to new highs.
If the competition remains intense like this, I am not worried about Nvidia collapsing;
but related stocks in Nvidia's industry chain will inevitably collapse.
Next, look at software, robotics, and FSD—these are the only sectors where AI has shown tangible results.