Global financial markets are entering a new round of repricing.

Over the past two days, from a shutdown in the South Korean stock market to a pullback in US tech stocks, and with the Federal Reserve meeting nearing, the market is sending a clear signal:
Capital is shifting from chasing expectations to reassessing value.
The sharp volatility in South Korea’s stock market is not because AI logic suddenly disappeared, but because sectors that had risen too much earlier are now undergoing concentrated corrections.
Especially in the memory industry: over the past year, it surged significantly under the push of the AI wave, and valuations were continually bid up.
When the market shows even the slightest sign of trouble, profit-taking naturally follows, and short-term funds pile into a stampede as a result.
At the same time, investors are beginning to re-examine the future global DRAM competitive landscape, as well as the industry changes driven by sustained breakthroughs in domestic semiconductors.
Coupled with the Fed’s continued maintenance of high interest rates for the long term, market liquidity remains tight, and expectations even persist for further policy tightening—multiple factors together are amplifying this round of adjustment.
But what needs to be seen is this: it doesn’t mean the AI era is ending.
AI still may be one of the most important technological revolutions in human history—however, any great industry development won’t be a straight line upward.
In the past, as the internet and mobile internet developed, they also went through bubbles, corrections, and a reshuffling of the playing field.
The real opportunities often don’t appear when the market is most heated, but gradually form amid panic and disagreement.
For long-term investors, what matters is not predicting every fluctuation, but staying patient and positioning in stages after recognizing the industry trends.
The industrial transformation brought by AI has only just begun. Time will prove everything!