According to interviewees, overseas AI narratives are under pressure, and investors are repricing the debt financing risks behind AI's huge capital expenses, causing the market to remain volatile. Currently, it is a period of intensive disclosure of semi-annual reports of listed companies. The high-valuation sector is facing performance tests, leading to capital shifting to a more cost-effective direction and laying out new investment opportunities. The reporter noticed that since August, more than 70 public funding institutions, including E-Fangda Fund, Bank of China Fund, and Penghua Fund, have continued to apply for new products, and segmented circuits such as science and technology innovation board chip design, China Securities artificial intelligence themes, and GEM computing power infrastructure have become important layout directions.

According to interviewees, overseas AI narratives are under pressure, and investors are repricing the debt financing risks behind AI's huge capital expenses, causing the market to remain volatile. Currently, it is a period of intensive disclosure of semi-annual reports of listed companies. The high-valuation sector is facing performance tests, leading to capital shifting to a more cost-effective direction and laying out new investment opportunities. The reporter noticed that since August, more than 70 public funding institutions, including E-Fangda Fund, Bank of China Fund, and Penghua Fund, have continued to apply for new products, and segmented circuits such as science and technology innovation board chip design, China Securities artificial intelligence themes, and GEM computing power infrastructure have become important layout directions.