After the AI industry chain "shrinks", the market deepens the trend of industry "certainty link".

Recently, the technology sector represented by AI has experienced increased volatility, leading to a clear divergence in market views. However, with the news of the listing of Longxin Technology, technology stocks have once again become a market focus, and the investment strategies of institutional investors towards technology stocks have also changed. According to interviews with reporters, the current market has begun to reevaluate the profit distribution pattern within the AI industry chain. Compared to previous trades focusing on computing power demand and industrial penetration, after the capital expenditure is realized, the future market focus will be on who can be the first to gain industry profits based on supply constraints, technological barriers, and capital expenditure advantages. In addition, institutional investors have stated that in the new AI narrative, the semiconductor equipment industry is experiencing two new performance trends: "price increases + going global."