#AI基础设施投资 CZ's year-end Q&A highlighted a key logic — no matter how the track shifts, Keep Building is the fundamental rule to navigate cycles. In the AI infrastructure sector, capital interest is indeed heating up, but I am more concerned with the real flow of funds and the project's execution progress.

The case of Giggle Academy is interesting; the combination of education track + crypto + AI seems like a collection of concepts, but it actually touches on the essential needs of user growth. From an on-chain data perspective, the lifecycle of such projects often depends on retention rates and continuous funding. In the short term, you may not see obvious whale movements or fund anomalies, but if you focus on product development, the long-term moat will gradually become apparent.

My judgment is that the AI infrastructure track will further differentiate — projects with genuine technological barriers and a solid user base will attract capital, while concept-based projects will gradually be phased out. Currently, it’s worth tracking the funding allocation and contract interaction data of these project teams, as they can reveal their true priority rankings.