Core Viewpoint - The core driving force behind the current technology stock market rally is primarily concentrated in the AI computing hardware industry chain, including chips, PCBs, and liquid cooling systems. Short-term, there is some valuation pressure accumulated, but the notion of an AI investment bubble is considered premature [1] Group 1: AI Industry Valuation - AI is characterized as a growth industry rather than a traditional industry, and current valuations in the AI sector are not deemed excessively high when compared to U.S. tech companies [1] - Even if there is a temporary increase in valuations, the AI industry can absorb this through high growth rates, indicating resilience in its market dynamics [1] Group 2: Industry Evolution - The process of survival of the fittest within the AI sector will further optimize the development landscape, suggesting ongoing evolution and potential for improved market conditions [1]
李迅雷：科技股短期有估值压力 谈AI投资泡沫为时尚早
Xin Lang Cai Jing·2025-11-15 10:03