CVM: Recent adjustments in the technology unit cannot simply be attributed to high interest rates on long-term debt in the United States

ACCORDING TO CSI, THE RECENT ADJUSTMENTS OF THE SCIENCE AND TECHNOLOGY UNIT CANNOT SIMPLY BE ATTRIBUTED TO HIGH INTEREST RATES ON LONG-DEBTS IN THE UNITED STATES, BEHIND WHICH THE FORWARD PRICING OF AI-RELATED EQUITIES IS A MATTER OF THREE KEY NARRATIVE VARIABLES: (1) WHETHER COMMERCIALIZATION RATES AND SPACE MATCH MARKET EXPECTATIONS; (2) WHETHER THE ARITHMETICAL ADVANTAGE BRINGS A SHARE AND A PRICING POWER ADVANTAGE; AND (3) WHETHER THE CURRENT ARITHMETICAL GAP WILL CLEARLY OPEN UP THE LONG-TERM AI MODEL GAP. THE CURRENT CONSENSUS CONCERN IS THE RATE AND SPACE OF COMMERCIALIZATION, AND THE GREATEST POTENTIAL VARIABLE IS WHETHER “RETORT PROTECTION” WILL RE-ESTABLISH THE MODEL GAP IN THE FUTURE. AS FOR MACRO-FACTORS, THE UNITED STATES TREASURY DEPARTMENT ANNOUNCED THAT THE IMPACT OF REPURCHASE LONG-TERM DEBT WAS VERY LIMITED, BUT THE WEAKENING OF THE UNITED STATES DOLLAR IN THE SHORT TERM AND THE EXPECTED WEAKENING OF THE INTEREST RATE HIKE WERE ALL CONDUCIVE TO THE CONTRACTION OF THE K-TYPE SEGMENTATION OF THE GLOBAL MARKET. HOWEVER, THERE HAS BEEN NO FUNDAMENTAL CHANGE IN THE FACTORS CONTRIBUTING TO THE CONTINUED UPWARD MOVEMENT OF LONG-END INTEREST RATES IN THE UNITED STATES, AND THERE MAY BE CONTINUED DISTURBANCES IN THE COMING PERIOD. THE FINANCIAL STRUCTURE OF UNIT A IN THE SHORT TERM, INFLUENCED BY THESE EXTERNAL DISTURBANCES, HAS INCREASED THE COMPLEXITY OF THE MARKET GAME, WHICH HAS TO CONTAIN PSYCHOLOGICAL EXPECTATIONS AND AVOID TOO MANY GRAND NARRATIVES。