Regarding the current AI situation in the US stock market: once you understand it, you’ll know what to do.

The recent drop is just short-term volatility driven by market sentiment and capital de-leveraging. It’s a pullback during an ongoing bull-market advance, not something driven by a focus on turning anything on. All of this appears to be orchestrated—planned, with hands on the controls.

The big-cycle AI trend has not ended. Commercial demand keeps strengthening, and application scenarios are also expanding further. This will continue to open up incremental space. It also means that not a single risk signal of an “industry bear market” has shown up—what you’re seeing is only a self-directed, self-staged de-leveraging script.

The compute capacity gap still remains. Target the earnings reports of giants like Google, Meta, and Amazon (look at capital expenditures); in a compute arms race, they won’t easily scale back their investment.

This round of retracement is only a valuation adjustment for the AI sector—it’s a continuation within the bull market. It’s easy to knock out a “golden pit,” so there’s no need to take a long-term bearish view on AI. #台积电Q2净利暴增77.4%