Morgan Stanley's latest assessment: AI investment has entered a "mid-game pause," focusing on two new main lines.

According to Chinese Securities Journal, Morgan Stanley's Chief Economist for China, Xing Ziqiang, recently shared his latest insights at a media communication meeting. Xing believes that the recent volatility in the AI sector is not due to a deterioration in fundamentals, but rather the result of crowded trading, liquidity withdrawal by large firms, and the resonance of rising oil prices with interest rate hike expectations. He thinks that AI investment has entered a "half-time adjustment," and the focus is shifting from chasing upstream computing power chips to two new main lines: AI applications and matching with HALO resources.