[US Stock Trading Notes | Market Thinking] Species Explosion after the Sixth AI Mass Extinction

English summary

· View: A friend recently compared AI corrections since 2023 to five mass extinctions, and I privately find the analogy interesting. Extending further, if the past five AI corrections were all doubts about industry trends (natural disasters), then this time is more like a 'longs killing each other' (intraspecific competition). Therefore, we believe last night's rebound is important, not the rebound itself, but that AI's concerns about 'capital long-long mutual killing' may have reached an inflection point. 1. The sixth mass extinction, no meteorite, only dinosaurs trampling each other. In the past few AI corrections, whether DeepSeek, Agent, or interest rate shocks, they were essentially 'mass extinctions' caused by external environment changes. But this time it is completely different. OpenAI's latest ARR continues to beat, Google Cloud revenue also beat, industry fundamentals are actually improving; #what overseas markets pay most attention to are capital events such as unwinding of Leopold-related products and long-long mutual killing. The industry hasn't had major problems; it's positions that have problems first. This is more like intraspecific competition than ecological deterioration. 2.…