People's Financial News, July 25 -- With the rise of a global AI wave, hard technology stocks represented by chips have dominated for a long period of time. Since July of this year, hard technology stocks have been sold off for a while. There seem to be signs of capital shifting to soft technology stocks represented by internet platforms, showing a phased “hard and soft switch.” This market phenomenon is affected by a combination of factors. In an interview with the Securities Times reporter, some experts believe that there is no permanent one-way, irreversible style change. The market is characterized by phased “soft and hard rotation” as the core characteristic, and the performance is divided in different time dimensions. There are also market participants who believe that the AI boom is not over, but that AI transactions go from only buying “shovels” to the stage of verifying who can actually make money.

People's Financial News, July 25 -- With the rise of a global AI wave, hard technology stocks represented by chips have dominated for a long period of time. Since July of this year, hard technology stocks have been sold off for a while. There seem to be signs of capital shifting to soft technology stocks represented by internet platforms, showing a phased “hard and soft switch.” This market phenomenon is affected by a combination of factors. In an interview with the Securities Times reporter, some experts believe that there is no permanent one-way, irreversible style change. The market is characterized by phased “soft and hard rotation” as the core characteristic, and the performance is divided in different time dimensions. There are also market participants who believe that the AI boom is not over, but that AI transactions go from only buying “shovels” to the stage of verifying who can actually make money.