On July 31, after nearly a month of correction, technology stocks represented by AI rebounded collectively under the impetus of peripheral markets. Many technology ETFs rose more than 9% in a single day, and the active equity funds of heavy tech “returned” in large areas. A number of fund managers interviewed said that the current rebound can be seen as a correction process from “excessive pessimistic pricing” to “phased rebalanced pricing”. Whether the market can further evolve into a continuous market situation still needs to be continuously verified. Furthermore, although the vast majority of fund managers are still optimistic about the long-term trend of the AI industry chain, the allocation idea from “concentration” to “balance” is further forging consensus, and the K-shaped differentiation of the market style may be expected to further converge.

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