CITIC Securities said it interviewed more than 10 Silicon Valley tech experts in
mid‑June on AI progress, model iteration pace and capabilities, data‑center
business models and CAPEX sustainability, AI-driven semiconductor investment
opportunities, embodied‑robotics commercialization timing, and world models. The
consensus: industry participants remain broadly optimistic and view AI as still
in an early development phase with large market and commercialization potential.
Veterans who experienced the 2000 dot‑com bubble warned cycles are inevitable;
although the sector is on an upswing, capital markets should closely monitor
valuation/earnings alignment and the cadence of supply‑side release — near‑term
liquidity or earnings‑expectation shocks could trigger significant market moves.
