AI has long been more than just a theoretical concept. The latest outlook from research institutions is quite clear—AI technology needs to be fully integrated into all industries, from R&D and production to operations management, with the entire chain achieving intelligent upgrades. The key isn’t just about stacking computing power, but about thoroughly transforming the efficiency of traditional industries. Looking at intelligent manufacturing equipment and industrial software, the application share is clearly increasing.

In other words, the investment logic for AI is shifting. Previously, it was "expectation-driven"—listening to rumors and reacting. Now, it’s "performance-driven"—speaking with actual data.

The capital markets are also beginning to reshuffle. The AI technology sector that performed brilliantly last year now faces the scrutiny of performance verification. The internal differentiation within the sector is intensifying, which is a matter of fact. Those segments with genuine performance elasticity—such as domestically produced semiconductor equipment and materials, and AI-enabled industrial robots—will receive valuation premiums. Conversely, those purely based on concepts without performance support are under significant adjustment pressure. Honestly, this kind of differentiation itself reflects a rational market correction. Capital is no longer blindly speculating but starting to price based on fundamentals.

On a macro level, the role of AI in boosting productivity is very critical. The International Monetary Fund predicts that global economic growth will slightly decline to 3.1% by 2026. The efficiency gains brought by AI act as a buffer, effectively hedging against the risks of economic slowdown.

Regarding cryptocurrencies, the combination of AI narratives and decentralized computing indeed opens up imaginative space. However, in reality, the prices of digital assets are still easily influenced by the sentiment of traditional tech stocks. When AI concept stocks outperform expectations with explosive earnings, market risk appetite usually rises; and vice versa. Although this correlation isn’t absolute, its influence should not be underestimated.