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``` A-share technology sector has strongly rebounded, with trading activity repeatedly hitting new highs, raising market concerns about overcrowding. However, the latest research report from UBS Securities offers a more reassuring assessment: Although both turnover and market capitalization share of the technology sector have reached historic highs, core indicators measuring institutional

AI computing power demand is fundamentally reshaping the growth logic of hyperscale cloud computing vendors. According to Wind Chase Trading Desk, a UBS report points out that the market still regards the three major cloud giants as simple AI computing power providers, but their roles have quietly transformed—from selling

``` In the past two years, macro research has become increasingly crowded. Hot topics rotate faster, viewpoints are updated more frequently, and research reports are increasingly "short, concise, and quick". Much of the content pursues emotional value and instant feedback, and few are willing to go deep to dissect

After Broadcom’s Q2 earnings report, the stock price once fell over 8% in after-hours trading. This is one of the most unusual earnings nights in the past two years—revenue hit an all-time high, AI chip revenue soared 143% year-on-year, cash flow posted a 46% profit margin, every data

``` The AI boom is facing an expensive reality check. According to Bloomberg, as companies roll out AI tools to all employees on a large scale, uncontrolled bills are starting to surface. Uber Technologies recently exhausted its annual AI budget within a few months and was forced to set limits on

``` As the deep integration of the AI chip supply chain accelerates, the cooperation between the two giants in memory and wafer foundry is extending from the product level to the strategic level. SK Group Chairman Chey Tae-won held a meeting with TSMC Chairman C.C. Wei on the 4th, the

Population aging has always been seen as a drag on economic growth, but this perception is quietly being overturned by data. As developed economies' elderly populations continue to accumulate wealth and their labor participation rates rise, those aged 65 and above are moving from the margins of the consumer