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Analysis: The extreme narrative of the "AI bubble" bursting in the short term is unlikely to manifest.
BlockBeats news, on November 24, CITIC Securities research report stated that the decline of US stocks on November 20 was dominated by macro factors, rather than panic selling triggered by the bursting of the AI bubble. The main reason for this round of pullback is the unexpected US Non-farm Payrolls (NFP) data in September combined with hawkish remarks from the Fed, triggering profit-taking in the market; combined with the marginal weakening of the US job market, the December Federal Open Market Committee (FOMC) Meeting may mark the peak of this round of “hawkish panic” sentiment, after which the main trading line in the market may shift to Trump's nomination game for the new Fed chairman. The fundamentals of the AI zone remain solid, with token index-level growth, ongoing bottlenecks in the Supply Chain, and the strong cash flow and balance sheets of the four major tech giants, making the extreme narrative of the “AI bubble” bursting difficult to manifest in the short term. (Jin10)