A股液冷服務器板塊走高，博彙股份20CM漲停，飛龍股份、金富科技、億利達此前漲停，日科化學、瑞可達、大元泵業等漲幅居前。

Goldman One Delta head Rich Privorotsky said AI and momentum trades swung sharply over the past 48 hours; Goldman’s GSPUMOMO momentum portfolio has fallen nearly 7%. Goldman Prime data show the move in positions has been much milder: momentum exposure is close to neutral and recent increases are chiefly in net exposure rather than gross leverage. That is material after a sizeable July de‑risking—investors still hold meaningful AI and semiconductors exposure but remain well below prior position peaks. Semiconductor internal leverage has already fallen, though residual system leverage could trigger passive de‑risking and forced selling if prices drop quickly. Lower market liquidity in August may further amplify AI swings; intraday price action looks “fundamental” but may overstate underlying fundamental change. Watch total leverage, Prime positions and semiconductor fund flows to judge whether this volatility will broaden into wider de‑risking.

道指期貨和納指期貨在沃爾瑪(WMT.N)季度業績公佈後小幅下跌。