20年一遇的信号！企业过度投资首次成为共识

Group 1 - A majority of global fund managers believe that companies are currently over-investing, with a net 20% indicating that corporate investment spending is too high, marking the first time this view has become a consensus since records began in 2005 [1] - Concerns about the sustainability of the AI capital expenditure boom have led to a market pullback, with the Nasdaq Composite Index dropping 1.2% on Tuesday and over 5% for the month [2] - The surge in AI infrastructure investment has been a key driver of record gains in U.S. tech stocks, exemplified by Nvidia becoming the first company to surpass a $5 trillion market capitalization [2] Group 2 - Over $200 billion in bonds have been issued by U.S. companies this year to finance AI-related projects, raising concerns about potential "oversupply" in bond issuance [3] - Approximately 45% of surveyed fund managers view the AI bubble as the largest "tail risk" to the market and global economy, a significant increase from 33% the previous month [4] - Despite concerns over spending levels, a composite indicator of investor sentiment has risen to its highest level since February, indicating a potential for market downturns in the coming months [4]