+Follow
Roy333
No personal profile
4
Follow
1
Followers
0
Topic
0
Badge
Posts
Hot
Roy333
11-04
good news
NVIDIA's $5 Trillion Market Cap: The Perils of America's AI-Driven Economic Bubble
Go to Tiger App to see more news
{"i18n":{"language":"en_US"},"userPageInfo":{"id":"4220471953438602","uuid":"4220471953438602","gmtCreate":1757368755500,"gmtModify":1760924662263,"name":"Roy333","pinyin":"roy333","introduction":"","introductionEn":null,"signature":"","avatar":"https://community-static.tradeup.com/news/c90070a42f3b9ae1a26857fe49410327","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":1,"headSize":4,"tweetSize":22,"questionSize":0,"limitLevel":999,"accountStatus":1,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"init","userBadges":[{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.09.18","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":1,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":496451120517984,"gmtCreate":1762226402825,"gmtModify":1762226406326,"author":{"id":"4220471953438602","authorId":"4220471953438602","name":"Roy333","avatar":"https://community-static.tradeup.com/news/c90070a42f3b9ae1a26857fe49410327","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4220471953438602","idStr":"4220471953438602"},"themes":[],"title":"","htmlText":"good news","listText":"good news","text":"good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/496451120517984","repostId":"1126361397","repostType":2,"repost":{"id":"1126361397","kind":"news","weMediaInfo":{"introduction":"Global Stock Market Deep Analysis","home_visible":1,"media_name":"Deep News","id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"pubTimestamp":1762216300,"share":"https://ttm.financial/m/news/1126361397?lang=en_US&edition=fundamental","pubTime":"2025-11-04 08:31","market":"hk","language":"en","title":"NVIDIA's $5 Trillion Market Cap: The Perils of America's AI-Driven Economic Bubble","url":"https://stock-news.laohu8.com/highlight/detail?id=1126361397","media":"Deep News","summary":"During my elementary school years, I first learned to read financial news and corporate earnings reports. A naive question arose: Companies must continuously grow revenue to sustain performance, but...","content":"<p>During my elementary school years, I first learned to read financial news and corporate earnings reports. A naive question arose: Companies must continuously grow revenue to sustain performance, but Earth's markets are finite—what happens when expansion hits its limit?</p>\n<p>Initially, economics taught me most firms never reach that stage. But studying political economy revealed a darker truth: While individual companies face competitive constraints, entire industries can hit growth ceilings—a symptom of capitalist crises. Today, AI exemplifies this danger, with NVIDIA’s $5 trillion valuation flashing warning signs.</p>\n<p>**The Illusion of Infinite Growth** \nAI proponents might dismiss such concerns, pointing to bullish indicators: Oracle’s stock surged after announcing its OpenAI partnership, briefly making its CEO the world’s richest. AMD’s shares also rallied on an OpenAI deal. NVIDIA’s unprecedented $5 trillion market cap seemingly confirms AI’s boundless potential.</p>\n<p>Yet these very deals reveal the cracks. Take Oracle’s $300 billion agreement with OpenAI—a long-term commitment potentially scaling further. But OpenAI lacks the funds. Despite 2024 projections of breakeven by 2027, its latest quarterly loss exceeded $10 billion (per Microsoft’s filings). With aggressive data-center plans, profitability may remain elusive until 2030.</p>\n<p>Even if OpenAI secured financing, Oracle couldn’t deliver the required computing power. As a smaller cloud player versus Amazon or Microsoft, Oracle would need years to build sufficient infrastructure. Meanwhile, OpenAI plans additional mega-deals, including a $250 billion Microsoft contract, totaling $1 trillion in commitments—far beyond its or any investor’s capacity.</p>\n<p>**Infrastructure Collapse** \nAmerica’s aging power grid can’t support AI’s energy demands. Post-2000s stagnation in electricity capacity clashes with AI’s voracious needs, forcing compromises: Residents near data centers face power-quality issues, while Cold War-era nuclear plants may reopen as stopgaps. Water scarcity further complicates cooling-intensive data centers.</p>\n<p>**The \"Too Big to Fail\" Bubble** \nAI now props up the U.S. economy. Estimates suggest $300–500 billion in 2024 data-center investments avert recession. The AI bubble dwarfs the dot-com era (17x larger) and 2008 crisis (4x). This dependency risks systemic collapse, diverting capital from other sectors.</p>\n<p>NVIDIA exemplifies this paradox. Despite slowing growth and reliability concerns with power-hungry new GPUs, it invests in GPU-leasing firms—essentially paying others to buy its chips. This self-reinforcing cycle sustains its valuation and U.S. GDP growth, mirroring a precarious \"left-foot-on-right-foot\" economic model.</p>\n<p>**Political and Theological Hype** \nThe Trump-linked Oracle-OpenAI deal reflects tech-right AI evangelism. Like religious fervor around \"creating life,\" AI’s mythos—embodied by dystopian sci-fi tropes—overrides rational analysis. Critics are dismissed as ignoring an \"inevitable\" AGI future, despite AGI’s undefined profitability and scalability limits.</p>\n<p>**China’s Contrast** \nSanctions inadvertently spared China’s AI sector from unchecked hype. Investments here fuel domestic semiconductor autonomy (e.g., HBM mass-production) and open-source ecosystems (e.g., DeepSeek’s TileLang-based models). Firms like Tencent back local GPU developers (Moore Threads, Tianshu Zhixin), advancing substitution.</p>\n<p>**Conclusion: The Inevitable Crash?** \nThe AI bubble’s burst could trigger global upheaval. Yet as with all \"too big to fail\" crises, preemptive solutions are unlikely. The tragedy awaits its curtain call—unless rationality prevails.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NVIDIA's $5 Trillion Market Cap: The Perils of America's AI-Driven Economic Bubble</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNVIDIA's $5 Trillion Market Cap: The Perils of America's AI-Driven Economic Bubble\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2025-11-04 08:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>During my elementary school years, I first learned to read financial news and corporate earnings reports. A naive question arose: Companies must continuously grow revenue to sustain performance, but Earth's markets are finite—what happens when expansion hits its limit?</p>\n<p>Initially, economics taught me most firms never reach that stage. But studying political economy revealed a darker truth: While individual companies face competitive constraints, entire industries can hit growth ceilings—a symptom of capitalist crises. Today, AI exemplifies this danger, with NVIDIA’s $5 trillion valuation flashing warning signs.</p>\n<p>**The Illusion of Infinite Growth** \nAI proponents might dismiss such concerns, pointing to bullish indicators: Oracle’s stock surged after announcing its OpenAI partnership, briefly making its CEO the world’s richest. AMD’s shares also rallied on an OpenAI deal. NVIDIA’s unprecedented $5 trillion market cap seemingly confirms AI’s boundless potential.</p>\n<p>Yet these very deals reveal the cracks. Take Oracle’s $300 billion agreement with OpenAI—a long-term commitment potentially scaling further. But OpenAI lacks the funds. Despite 2024 projections of breakeven by 2027, its latest quarterly loss exceeded $10 billion (per Microsoft’s filings). With aggressive data-center plans, profitability may remain elusive until 2030.</p>\n<p>Even if OpenAI secured financing, Oracle couldn’t deliver the required computing power. As a smaller cloud player versus Amazon or Microsoft, Oracle would need years to build sufficient infrastructure. Meanwhile, OpenAI plans additional mega-deals, including a $250 billion Microsoft contract, totaling $1 trillion in commitments—far beyond its or any investor’s capacity.</p>\n<p>**Infrastructure Collapse** \nAmerica’s aging power grid can’t support AI’s energy demands. Post-2000s stagnation in electricity capacity clashes with AI’s voracious needs, forcing compromises: Residents near data centers face power-quality issues, while Cold War-era nuclear plants may reopen as stopgaps. Water scarcity further complicates cooling-intensive data centers.</p>\n<p>**The \"Too Big to Fail\" Bubble** \nAI now props up the U.S. economy. Estimates suggest $300–500 billion in 2024 data-center investments avert recession. The AI bubble dwarfs the dot-com era (17x larger) and 2008 crisis (4x). This dependency risks systemic collapse, diverting capital from other sectors.</p>\n<p>NVIDIA exemplifies this paradox. Despite slowing growth and reliability concerns with power-hungry new GPUs, it invests in GPU-leasing firms—essentially paying others to buy its chips. This self-reinforcing cycle sustains its valuation and U.S. GDP growth, mirroring a precarious \"left-foot-on-right-foot\" economic model.</p>\n<p>**Political and Theological Hype** \nThe Trump-linked Oracle-OpenAI deal reflects tech-right AI evangelism. Like religious fervor around \"creating life,\" AI’s mythos—embodied by dystopian sci-fi tropes—overrides rational analysis. Critics are dismissed as ignoring an \"inevitable\" AGI future, despite AGI’s undefined profitability and scalability limits.</p>\n<p>**China’s Contrast** \nSanctions inadvertently spared China’s AI sector from unchecked hype. Investments here fuel domestic semiconductor autonomy (e.g., HBM mass-production) and open-source ecosystems (e.g., DeepSeek’s TileLang-based models). Firms like Tencent back local GPU developers (Moore Threads, Tianshu Zhixin), advancing substitution.</p>\n<p>**Conclusion: The Inevitable Crash?** \nThe AI bubble’s burst could trigger global upheaval. Yet as with all \"too big to fail\" crises, preemptive solutions are unlikely. The tragedy awaits its curtain call—unless rationality prevails.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2473716301.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMF\" (USD) INC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU2463028550.USD":"AB SICAV I AMERICAN MULTI-ASSET PORTFOLIO \"A\" (USD) ACC","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU0353189763.USD":"ALLSPRING US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC","LU0109392836.USD":"富兰克林科技股A","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU0354030511.USD":"ALLSPRING U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","LU0444971666.USD":"天利全球科技基金","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","BK4581":"高盛持仓","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU0823414551.USD":"BNP PARIBAS ENERGY TRANSITION \"C\" (USD) INC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU1935042488.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU1633808545.USD":"ALLIANZ GLOBAL EQUITY GROWTH \"AT\" (USD) ACC","BK4579":"人工智能","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1923622614.USD":"Natixis Thematics Meta R/A USD","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) INC (M)","LU2413666426.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (HKD) ACC","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","LU2452424414.USD":"BGF ESG MULTI-ASSET \"A10\" (USDHDG) INC","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD) INC","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU1923622291.USD":"Natixis Thematics Safety R/A USD","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU1861127337.USD":"ALLIANZ GLOBAL MULTI ASSET SUSTAINABILITY BALANCED \"AMG\" (USD) INC","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0345768153.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) ACC","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU1934455277.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"AD\" (USD) INC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU0557290698.USD":"施罗德环球可持续增长基金","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","LU1791710582.SGD":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","LU1934455194.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (USD) ACC","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU0056508442.USD":"贝莱德世界科技基金A2","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","BK4585":"ETF&股票定投概念","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","BK4587":"ChatGPT概念","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","BK4588":"碎股","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU0724617625.USD":"BGF GLOBAL ALLOCATION \"A4\" (USD) INC","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","3NVD.UK":"LS 3X NVIDIA","LU0788109477.HKD":"BGF GLOBAL ALLOCATION \"A2\" (HKDHGD) ACC","LU2357125470.USD":"BNP PARIBAS ENERGY TRANSITION \"CLASSIC RH\" (USDHDG) ACC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU2294711713.HKD":"BNP PARIBAS ENERGY TRANSITION \"C\" (HKD) ACC","NVDA":"英伟达","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU2097344431.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) INC","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","LU2097344357.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) ACC","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU2087625088.SGD":"ALLSPRING US ALL CAP GROWTH \"A\" (SGDHDG) ACC","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU2125909247.SGD":"Natixis Thematics Meta H-R/A SGD","LU1548497426.USD":"安联环球人工智能AT Acc","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU2271345857.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (HKD) ACC","2NVD.UK":"2X NVIDIA ETP","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","NVD":"2倍做空NVDA ETF-GraniteShares","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","NVDD":"1倍做空NVDA ETF-Direxion","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","SG9999002232.USD":"Allianz Global High Payout USD","SG9999002224.SGD":"Allianz Global High Payout SGD","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","NVDL":"2倍做多NVDA ETF-GraniteShares","LU1934455863.HKD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (HKD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU1127390331.HKD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A\" (HKD) ACC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU0107464264.USD":"abrdn SICAV I - GLOBAL INNOVATION EQUITY \"A\" (USD) ACC","NVDS":"1.5倍做空NVDA ETF-Tradr","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","NVDU":"2倍做多NVDA ETF-Direxion","LU2272731865.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AM\" (HKD) INC","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","NVDX":"2倍做多NVDA ETF-T-Rex","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","NVDY":"NVDA期权收益策略ETF-YieldMax","LU0965508806.USD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0238689110.USD":"贝莱德环球动力股票基金","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU2322448791.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (USD) INC","LU2322448957.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (HKD) INC","LU0072462426.USD":"贝莱德全球配置 A2","LU0342679015.USD":"ALLIANZ GLOBAL EQUITY UNCONSTRAINED \"AT\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU2191332357.HKD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (HKDHDG) INC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","SGXZ81514606.USD":"大华环球创新基金A Acc USD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","BK4503":"景林资产持仓","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1 Acc SGD-H","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"AG\" (USD) ACC","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","LU2413666699.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"CRH\" (HKDHDG) INC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0861579265.USD":"联博低波幅策略股票基金A","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","LU0210536198.USD":"JPM US GROWTH \"A\" ACC","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","IE00BZ199S13.USD":"BNY MELLON MOBILITY INNOVATION \"B\" (USD) ACC","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","BK4534":"瑞士信贷持仓","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","BK4532":"文艺复兴科技持仓","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC","LU0251132253.USD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) ACC","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0203202063.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A2X\" (USD) ACC","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU1066051225.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AC\" (USD) ACC","NVD2.UK":"2X NVIDIA ETP","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0203201768.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"AX\" (USD) INC","NVD3.UK":"LS 3X NVIDIA","LU1917777945.USD":"安联专题基金Cl AT Acc","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","NVDS.UK":"LS -1X NVIDIA","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","LU2506951792.HKD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (HKDHDG) ACC","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU1721428933.USD":"法巴全球经典环境基金RH MD Dis","LU0882574139.USD":"富达环球消费行业基金A ACC","SG9999014542.SGD":"United Income Focus Trust Acc SGD","BK4527":"明星科技股","SG9999015978.USD":"利安颠覆性创新基金A","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU2433249047.HKD":"THEMATICS META \"R/A\" (HKD) ACC","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","BK4592":"伊斯兰概念","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU2063271972.USD":"富兰克林创新领域基金","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU2244417387.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) ACC","LU1037948897.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (HKD) INC","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","SNVD.UK":"LS -1X NVIDIA","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1037948541.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (HKD) ACC","BK4529":"IDC概念","SG9999014575.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USDHDG) INC","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","LU0823414478.USD":"法巴经典能源转换基金","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","SG9999001424.SGD":"United E-Commerce Fund SGD","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","BK4551":"寇图资本持仓","LU1261432733.SGD":"Fidelity World A-ACC-SGD","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU2092937148.SGD":"Blackrock ESG Multi-Asset A8 SGD-H","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","BK4550":"红杉资本持仓","LU2092627202.USD":"Blackrock ESG Multi-Asset A8 USD-H","SG9999014559.SGD":"United Income Focus Trust Dis SGD","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","LU2360107168.USD":"BGF NEXT GENERATION TECHNOLOGY \"A4\" (USD) INC","LU2077746001.SGD":"Blackrock ESG Multi-Asset A2 SGD-H","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU1232071149.USD":"AZ FUND 1 GLOBAL GROWTH SELECTOR \"AAZ\" (USDHDG) ACC","SG9999014567.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USD) ACC","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","BK4598":"佩洛西持仓","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","SG9999015358.SGD":"United Income Focus Trust Dis SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4554":"元宇宙及AR概念","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0094547139.USD":"abrdn SICAV I - GLOBAL SUSTAINABLE EQUITY FUND \"A\" (USD) ACC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU2381873111.SGD":"BGF SYSTEMATIC GLOBAL EQUITY HIGH INCOME \"A6\" (SGDHDG) INC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU0080751232.USD":"富达环球多元动力基金A","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","LU0070217475.USD":"JPM GLOBAL SELECT EQUITY \"A\" ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","BK4548":"巴美列捷福持仓","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","BK4605":"半导体精选","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","LU0061474960.USD":"天利环球焦点基金AU Acc","BK4608":"AI应用概念股","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","BK4549":"软银资本持仓","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU1821325948.USD":"NINETY ONE GSF GLOBAL MACRO ALLOCATION \"A\" (USD) ACC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","BK4543":"AI","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU0345768740.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) INC","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","BK4612":"AI芯片","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4614":"Manus概念股","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","LU2746668974.SGD":"MANULIFE DYNAMIC LEADERS \"AA\" (SGDHDG) ACC","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","LU0347712357.USD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","SG9999015341.SGD":"United Income Focus Trust Acc SGD-H","LU2083900584.USD":"HSBC GIF US INCOME FOCUSED \"AM2\" (USD) INC","LU1066051811.HKD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (HKD) INC","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU0079474960.USD":"联博美国增长基金A","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU2242649171.HKD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (HKD) ACC","LU0472753341.HKD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (HKD) ACC","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","BK4141":"半导体产品","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","IE00BYXW3230.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"AA\" (USD) ACC","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4567":"ESG概念","LU0124676726.USD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU2491049909.HKD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (HKD) ACC","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","LU0528227936.USD":"富达环球人口趋势基金A-ACC","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU2491050071.SGD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (SGDHDG) ACC","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU2491050154.USD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (USD) ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0048584097.USD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","NVIW.SI":"NVDA 3xLongSG261006","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","LU2860962120.EUR":"CPR INVEST - ARTIFICIAL INTELLIGENCE \"A2\" (EUR) ACC A","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126361397","content_text":"During my elementary school years, I first learned to read financial news and corporate earnings reports. A naive question arose: Companies must continuously grow revenue to sustain performance, but Earth's markets are finite—what happens when expansion hits its limit?\nInitially, economics taught me most firms never reach that stage. But studying political economy revealed a darker truth: While individual companies face competitive constraints, entire industries can hit growth ceilings—a symptom of capitalist crises. Today, AI exemplifies this danger, with NVIDIA’s $5 trillion valuation flashing warning signs.\n**The Illusion of Infinite Growth** \nAI proponents might dismiss such concerns, pointing to bullish indicators: Oracle’s stock surged after announcing its OpenAI partnership, briefly making its CEO the world’s richest. AMD’s shares also rallied on an OpenAI deal. NVIDIA’s unprecedented $5 trillion market cap seemingly confirms AI’s boundless potential.\nYet these very deals reveal the cracks. Take Oracle’s $300 billion agreement with OpenAI—a long-term commitment potentially scaling further. But OpenAI lacks the funds. Despite 2024 projections of breakeven by 2027, its latest quarterly loss exceeded $10 billion (per Microsoft’s filings). With aggressive data-center plans, profitability may remain elusive until 2030.\nEven if OpenAI secured financing, Oracle couldn’t deliver the required computing power. As a smaller cloud player versus Amazon or Microsoft, Oracle would need years to build sufficient infrastructure. Meanwhile, OpenAI plans additional mega-deals, including a $250 billion Microsoft contract, totaling $1 trillion in commitments—far beyond its or any investor’s capacity.\n**Infrastructure Collapse** \nAmerica’s aging power grid can’t support AI’s energy demands. Post-2000s stagnation in electricity capacity clashes with AI’s voracious needs, forcing compromises: Residents near data centers face power-quality issues, while Cold War-era nuclear plants may reopen as stopgaps. Water scarcity further complicates cooling-intensive data centers.\n**The \"Too Big to Fail\" Bubble** \nAI now props up the U.S. economy. Estimates suggest $300–500 billion in 2024 data-center investments avert recession. The AI bubble dwarfs the dot-com era (17x larger) and 2008 crisis (4x). This dependency risks systemic collapse, diverting capital from other sectors.\nNVIDIA exemplifies this paradox. Despite slowing growth and reliability concerns with power-hungry new GPUs, it invests in GPU-leasing firms—essentially paying others to buy its chips. This self-reinforcing cycle sustains its valuation and U.S. GDP growth, mirroring a precarious \"left-foot-on-right-foot\" economic model.\n**Political and Theological Hype** \nThe Trump-linked Oracle-OpenAI deal reflects tech-right AI evangelism. Like religious fervor around \"creating life,\" AI’s mythos—embodied by dystopian sci-fi tropes—overrides rational analysis. Critics are dismissed as ignoring an \"inevitable\" AGI future, despite AGI’s undefined profitability and scalability limits.\n**China’s Contrast** \nSanctions inadvertently spared China’s AI sector from unchecked hype. Investments here fuel domestic semiconductor autonomy (e.g., HBM mass-production) and open-source ecosystems (e.g., DeepSeek’s TileLang-based models). Firms like Tencent back local GPU developers (Moore Threads, Tianshu Zhixin), advancing substitution.\n**Conclusion: The Inevitable Crash?** \nThe AI bubble’s burst could trigger global upheaval. Yet as with all \"too big to fail\" crises, preemptive solutions are unlikely. The tragedy awaits its curtain call—unless rationality prevails.","news_type":1,"symbols_score_info":{"NVD":1,"NVIW.SI":1,"NVDA":1,"NVDX":1,"SNVD.UK":1,"3NVD.UK":1,"NVD3.UK":1,"NVDL":1,"NVDU":1,"2NVD.UK":1,"NVDY":1,"NVD2.UK":1,"NVDS":1,"NVDD":1,"NVDS.UK":1}},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":496451120517984,"gmtCreate":1762226402825,"gmtModify":1762226406326,"author":{"id":"4220471953438602","authorId":"4220471953438602","name":"Roy333","avatar":"https://community-static.tradeup.com/news/c90070a42f3b9ae1a26857fe49410327","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4220471953438602","idStr":"4220471953438602"},"themes":[],"title":"","htmlText":"good news","listText":"good news","text":"good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/496451120517984","repostId":"1126361397","repostType":2,"repost":{"id":"1126361397","kind":"news","weMediaInfo":{"introduction":"Global Stock Market Deep Analysis","home_visible":1,"media_name":"Deep News","id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"pubTimestamp":1762216300,"share":"https://ttm.financial/m/news/1126361397?lang=en_US&edition=fundamental","pubTime":"2025-11-04 08:31","market":"hk","language":"en","title":"NVIDIA's $5 Trillion Market Cap: The Perils of America's AI-Driven Economic Bubble","url":"https://stock-news.laohu8.com/highlight/detail?id=1126361397","media":"Deep News","summary":"During my elementary school years, I first learned to read financial news and corporate earnings reports. A naive question arose: Companies must continuously grow revenue to sustain performance, but...","content":"<p>During my elementary school years, I first learned to read financial news and corporate earnings reports. A naive question arose: Companies must continuously grow revenue to sustain performance, but Earth's markets are finite—what happens when expansion hits its limit?</p>\n<p>Initially, economics taught me most firms never reach that stage. But studying political economy revealed a darker truth: While individual companies face competitive constraints, entire industries can hit growth ceilings—a symptom of capitalist crises. Today, AI exemplifies this danger, with NVIDIA’s $5 trillion valuation flashing warning signs.</p>\n<p>**The Illusion of Infinite Growth** \nAI proponents might dismiss such concerns, pointing to bullish indicators: Oracle’s stock surged after announcing its OpenAI partnership, briefly making its CEO the world’s richest. AMD’s shares also rallied on an OpenAI deal. NVIDIA’s unprecedented $5 trillion market cap seemingly confirms AI’s boundless potential.</p>\n<p>Yet these very deals reveal the cracks. Take Oracle’s $300 billion agreement with OpenAI—a long-term commitment potentially scaling further. But OpenAI lacks the funds. Despite 2024 projections of breakeven by 2027, its latest quarterly loss exceeded $10 billion (per Microsoft’s filings). With aggressive data-center plans, profitability may remain elusive until 2030.</p>\n<p>Even if OpenAI secured financing, Oracle couldn’t deliver the required computing power. As a smaller cloud player versus Amazon or Microsoft, Oracle would need years to build sufficient infrastructure. Meanwhile, OpenAI plans additional mega-deals, including a $250 billion Microsoft contract, totaling $1 trillion in commitments—far beyond its or any investor’s capacity.</p>\n<p>**Infrastructure Collapse** \nAmerica’s aging power grid can’t support AI’s energy demands. Post-2000s stagnation in electricity capacity clashes with AI’s voracious needs, forcing compromises: Residents near data centers face power-quality issues, while Cold War-era nuclear plants may reopen as stopgaps. Water scarcity further complicates cooling-intensive data centers.</p>\n<p>**The \"Too Big to Fail\" Bubble** \nAI now props up the U.S. economy. Estimates suggest $300–500 billion in 2024 data-center investments avert recession. The AI bubble dwarfs the dot-com era (17x larger) and 2008 crisis (4x). This dependency risks systemic collapse, diverting capital from other sectors.</p>\n<p>NVIDIA exemplifies this paradox. Despite slowing growth and reliability concerns with power-hungry new GPUs, it invests in GPU-leasing firms—essentially paying others to buy its chips. This self-reinforcing cycle sustains its valuation and U.S. GDP growth, mirroring a precarious \"left-foot-on-right-foot\" economic model.</p>\n<p>**Political and Theological Hype** \nThe Trump-linked Oracle-OpenAI deal reflects tech-right AI evangelism. Like religious fervor around \"creating life,\" AI’s mythos—embodied by dystopian sci-fi tropes—overrides rational analysis. Critics are dismissed as ignoring an \"inevitable\" AGI future, despite AGI’s undefined profitability and scalability limits.</p>\n<p>**China’s Contrast** \nSanctions inadvertently spared China’s AI sector from unchecked hype. Investments here fuel domestic semiconductor autonomy (e.g., HBM mass-production) and open-source ecosystems (e.g., DeepSeek’s TileLang-based models). Firms like Tencent back local GPU developers (Moore Threads, Tianshu Zhixin), advancing substitution.</p>\n<p>**Conclusion: The Inevitable Crash?** \nThe AI bubble’s burst could trigger global upheaval. Yet as with all \"too big to fail\" crises, preemptive solutions are unlikely. The tragedy awaits its curtain call—unless rationality prevails.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NVIDIA's $5 Trillion Market Cap: The Perils of America's AI-Driven Economic Bubble</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNVIDIA's $5 Trillion Market Cap: The Perils of America's AI-Driven Economic Bubble\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2025-11-04 08:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>During my elementary school years, I first learned to read financial news and corporate earnings reports. A naive question arose: Companies must continuously grow revenue to sustain performance, but Earth's markets are finite—what happens when expansion hits its limit?</p>\n<p>Initially, economics taught me most firms never reach that stage. But studying political economy revealed a darker truth: While individual companies face competitive constraints, entire industries can hit growth ceilings—a symptom of capitalist crises. Today, AI exemplifies this danger, with NVIDIA’s $5 trillion valuation flashing warning signs.</p>\n<p>**The Illusion of Infinite Growth** \nAI proponents might dismiss such concerns, pointing to bullish indicators: Oracle’s stock surged after announcing its OpenAI partnership, briefly making its CEO the world’s richest. AMD’s shares also rallied on an OpenAI deal. NVIDIA’s unprecedented $5 trillion market cap seemingly confirms AI’s boundless potential.</p>\n<p>Yet these very deals reveal the cracks. Take Oracle’s $300 billion agreement with OpenAI—a long-term commitment potentially scaling further. But OpenAI lacks the funds. Despite 2024 projections of breakeven by 2027, its latest quarterly loss exceeded $10 billion (per Microsoft’s filings). With aggressive data-center plans, profitability may remain elusive until 2030.</p>\n<p>Even if OpenAI secured financing, Oracle couldn’t deliver the required computing power. As a smaller cloud player versus Amazon or Microsoft, Oracle would need years to build sufficient infrastructure. Meanwhile, OpenAI plans additional mega-deals, including a $250 billion Microsoft contract, totaling $1 trillion in commitments—far beyond its or any investor’s capacity.</p>\n<p>**Infrastructure Collapse** \nAmerica’s aging power grid can’t support AI’s energy demands. Post-2000s stagnation in electricity capacity clashes with AI’s voracious needs, forcing compromises: Residents near data centers face power-quality issues, while Cold War-era nuclear plants may reopen as stopgaps. Water scarcity further complicates cooling-intensive data centers.</p>\n<p>**The \"Too Big to Fail\" Bubble** \nAI now props up the U.S. economy. Estimates suggest $300–500 billion in 2024 data-center investments avert recession. The AI bubble dwarfs the dot-com era (17x larger) and 2008 crisis (4x). This dependency risks systemic collapse, diverting capital from other sectors.</p>\n<p>NVIDIA exemplifies this paradox. Despite slowing growth and reliability concerns with power-hungry new GPUs, it invests in GPU-leasing firms—essentially paying others to buy its chips. This self-reinforcing cycle sustains its valuation and U.S. GDP growth, mirroring a precarious \"left-foot-on-right-foot\" economic model.</p>\n<p>**Political and Theological Hype** \nThe Trump-linked Oracle-OpenAI deal reflects tech-right AI evangelism. Like religious fervor around \"creating life,\" AI’s mythos—embodied by dystopian sci-fi tropes—overrides rational analysis. Critics are dismissed as ignoring an \"inevitable\" AGI future, despite AGI’s undefined profitability and scalability limits.</p>\n<p>**China’s Contrast** \nSanctions inadvertently spared China’s AI sector from unchecked hype. Investments here fuel domestic semiconductor autonomy (e.g., HBM mass-production) and open-source ecosystems (e.g., DeepSeek’s TileLang-based models). Firms like Tencent back local GPU developers (Moore Threads, Tianshu Zhixin), advancing substitution.</p>\n<p>**Conclusion: The Inevitable Crash?** \nThe AI bubble’s burst could trigger global upheaval. Yet as with all \"too big to fail\" crises, preemptive solutions are unlikely. The tragedy awaits its curtain call—unless rationality prevails.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2473716301.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMF\" (USD) INC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU2463028550.USD":"AB SICAV I AMERICAN MULTI-ASSET PORTFOLIO \"A\" (USD) ACC","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU0353189763.USD":"ALLSPRING US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC","LU0109392836.USD":"富兰克林科技股A","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU0354030511.USD":"ALLSPRING U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","LU0444971666.USD":"天利全球科技基金","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","BK4581":"高盛持仓","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU0823414551.USD":"BNP PARIBAS ENERGY TRANSITION \"C\" (USD) INC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU1935042488.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU1633808545.USD":"ALLIANZ GLOBAL EQUITY GROWTH \"AT\" (USD) ACC","BK4579":"人工智能","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1923622614.USD":"Natixis Thematics Meta R/A USD","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) INC (M)","LU2413666426.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (HKD) ACC","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","LU2452424414.USD":"BGF ESG MULTI-ASSET \"A10\" (USDHDG) INC","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD) INC","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU1923622291.USD":"Natixis Thematics Safety R/A USD","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU1861127337.USD":"ALLIANZ GLOBAL MULTI ASSET SUSTAINABILITY BALANCED \"AMG\" (USD) INC","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0345768153.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) ACC","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU1934455277.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"AD\" (USD) INC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU0557290698.USD":"施罗德环球可持续增长基金","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","LU1791710582.SGD":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","LU1934455194.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (USD) ACC","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU0056508442.USD":"贝莱德世界科技基金A2","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","BK4585":"ETF&股票定投概念","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","BK4587":"ChatGPT概念","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","BK4588":"碎股","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU0724617625.USD":"BGF GLOBAL ALLOCATION \"A4\" (USD) INC","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","3NVD.UK":"LS 3X NVIDIA","LU0788109477.HKD":"BGF GLOBAL ALLOCATION \"A2\" (HKDHGD) ACC","LU2357125470.USD":"BNP PARIBAS ENERGY TRANSITION \"CLASSIC RH\" (USDHDG) ACC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU2294711713.HKD":"BNP PARIBAS ENERGY TRANSITION \"C\" (HKD) ACC","NVDA":"英伟达","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU2097344431.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) INC","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","LU2097344357.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) ACC","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU2087625088.SGD":"ALLSPRING US ALL CAP GROWTH \"A\" (SGDHDG) ACC","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU2125909247.SGD":"Natixis Thematics Meta H-R/A SGD","LU1548497426.USD":"安联环球人工智能AT Acc","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU2271345857.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (HKD) ACC","2NVD.UK":"2X NVIDIA ETP","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","NVD":"2倍做空NVDA ETF-GraniteShares","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","NVDD":"1倍做空NVDA ETF-Direxion","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","SG9999002232.USD":"Allianz Global High Payout USD","SG9999002224.SGD":"Allianz Global High Payout SGD","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","NVDL":"2倍做多NVDA ETF-GraniteShares","LU1934455863.HKD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (HKD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU1127390331.HKD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A\" (HKD) ACC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU0107464264.USD":"abrdn SICAV I - GLOBAL INNOVATION EQUITY \"A\" (USD) ACC","NVDS":"1.5倍做空NVDA ETF-Tradr","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","NVDU":"2倍做多NVDA ETF-Direxion","LU2272731865.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AM\" (HKD) INC","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","NVDX":"2倍做多NVDA ETF-T-Rex","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","NVDY":"NVDA期权收益策略ETF-YieldMax","LU0965508806.USD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0238689110.USD":"贝莱德环球动力股票基金","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU2322448791.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (USD) INC","LU2322448957.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (HKD) INC","LU0072462426.USD":"贝莱德全球配置 A2","LU0342679015.USD":"ALLIANZ GLOBAL EQUITY UNCONSTRAINED \"AT\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU2191332357.HKD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (HKDHDG) INC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","SGXZ81514606.USD":"大华环球创新基金A Acc USD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","BK4503":"景林资产持仓","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1 Acc SGD-H","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"AG\" (USD) ACC","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","LU2413666699.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"CRH\" (HKDHDG) INC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0861579265.USD":"联博低波幅策略股票基金A","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","LU0210536198.USD":"JPM US GROWTH \"A\" ACC","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","IE00BZ199S13.USD":"BNY MELLON MOBILITY INNOVATION \"B\" (USD) ACC","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","BK4534":"瑞士信贷持仓","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","BK4532":"文艺复兴科技持仓","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC","LU0251132253.USD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) ACC","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0203202063.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A2X\" (USD) ACC","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU1066051225.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AC\" (USD) ACC","NVD2.UK":"2X NVIDIA ETP","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0203201768.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"AX\" (USD) INC","NVD3.UK":"LS 3X NVIDIA","LU1917777945.USD":"安联专题基金Cl AT Acc","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","NVDS.UK":"LS -1X NVIDIA","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","LU2506951792.HKD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (HKDHDG) ACC","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU1721428933.USD":"法巴全球经典环境基金RH MD Dis","LU0882574139.USD":"富达环球消费行业基金A ACC","SG9999014542.SGD":"United Income Focus Trust Acc SGD","BK4527":"明星科技股","SG9999015978.USD":"利安颠覆性创新基金A","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU2433249047.HKD":"THEMATICS META \"R/A\" (HKD) ACC","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","BK4592":"伊斯兰概念","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU2063271972.USD":"富兰克林创新领域基金","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU2244417387.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) ACC","LU1037948897.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (HKD) INC","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","SNVD.UK":"LS -1X NVIDIA","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1037948541.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (HKD) ACC","BK4529":"IDC概念","SG9999014575.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USDHDG) INC","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","LU0823414478.USD":"法巴经典能源转换基金","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","SG9999001424.SGD":"United E-Commerce Fund SGD","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","BK4551":"寇图资本持仓","LU1261432733.SGD":"Fidelity World A-ACC-SGD","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU2092937148.SGD":"Blackrock ESG Multi-Asset A8 SGD-H","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","BK4550":"红杉资本持仓","LU2092627202.USD":"Blackrock ESG Multi-Asset A8 USD-H","SG9999014559.SGD":"United Income Focus Trust Dis SGD","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","LU2360107168.USD":"BGF NEXT GENERATION TECHNOLOGY \"A4\" (USD) INC","LU2077746001.SGD":"Blackrock ESG Multi-Asset A2 SGD-H","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU1232071149.USD":"AZ FUND 1 GLOBAL GROWTH SELECTOR \"AAZ\" (USDHDG) ACC","SG9999014567.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USD) ACC","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","BK4598":"佩洛西持仓","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","SG9999015358.SGD":"United Income Focus Trust Dis SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4554":"元宇宙及AR概念","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0094547139.USD":"abrdn SICAV I - GLOBAL SUSTAINABLE EQUITY FUND \"A\" (USD) ACC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU2381873111.SGD":"BGF SYSTEMATIC GLOBAL EQUITY HIGH INCOME \"A6\" (SGDHDG) INC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU0080751232.USD":"富达环球多元动力基金A","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","LU0070217475.USD":"JPM GLOBAL SELECT EQUITY \"A\" ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","BK4548":"巴美列捷福持仓","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","BK4605":"半导体精选","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","LU0061474960.USD":"天利环球焦点基金AU Acc","BK4608":"AI应用概念股","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","BK4549":"软银资本持仓","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU1821325948.USD":"NINETY ONE GSF GLOBAL MACRO ALLOCATION \"A\" (USD) ACC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","BK4543":"AI","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU0345768740.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) INC","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","BK4612":"AI芯片","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4614":"Manus概念股","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","LU2746668974.SGD":"MANULIFE DYNAMIC LEADERS \"AA\" (SGDHDG) ACC","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","LU0347712357.USD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","SG9999015341.SGD":"United Income Focus Trust Acc SGD-H","LU2083900584.USD":"HSBC GIF US INCOME FOCUSED \"AM2\" (USD) INC","LU1066051811.HKD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (HKD) INC","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU0079474960.USD":"联博美国增长基金A","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU2242649171.HKD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (HKD) ACC","LU0472753341.HKD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (HKD) ACC","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","BK4141":"半导体产品","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","IE00BYXW3230.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"AA\" (USD) ACC","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4567":"ESG概念","LU0124676726.USD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU2491049909.HKD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (HKD) ACC","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","LU0528227936.USD":"富达环球人口趋势基金A-ACC","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU2491050071.SGD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (SGDHDG) ACC","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU2491050154.USD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (USD) ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0048584097.USD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","NVIW.SI":"NVDA 3xLongSG261006","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","LU2860962120.EUR":"CPR INVEST - ARTIFICIAL INTELLIGENCE \"A2\" (EUR) ACC A","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126361397","content_text":"During my elementary school years, I first learned to read financial news and corporate earnings reports. A naive question arose: Companies must continuously grow revenue to sustain performance, but Earth's markets are finite—what happens when expansion hits its limit?\nInitially, economics taught me most firms never reach that stage. But studying political economy revealed a darker truth: While individual companies face competitive constraints, entire industries can hit growth ceilings—a symptom of capitalist crises. Today, AI exemplifies this danger, with NVIDIA’s $5 trillion valuation flashing warning signs.\n**The Illusion of Infinite Growth** \nAI proponents might dismiss such concerns, pointing to bullish indicators: Oracle’s stock surged after announcing its OpenAI partnership, briefly making its CEO the world’s richest. AMD’s shares also rallied on an OpenAI deal. NVIDIA’s unprecedented $5 trillion market cap seemingly confirms AI’s boundless potential.\nYet these very deals reveal the cracks. Take Oracle’s $300 billion agreement with OpenAI—a long-term commitment potentially scaling further. But OpenAI lacks the funds. Despite 2024 projections of breakeven by 2027, its latest quarterly loss exceeded $10 billion (per Microsoft’s filings). With aggressive data-center plans, profitability may remain elusive until 2030.\nEven if OpenAI secured financing, Oracle couldn’t deliver the required computing power. As a smaller cloud player versus Amazon or Microsoft, Oracle would need years to build sufficient infrastructure. Meanwhile, OpenAI plans additional mega-deals, including a $250 billion Microsoft contract, totaling $1 trillion in commitments—far beyond its or any investor’s capacity.\n**Infrastructure Collapse** \nAmerica’s aging power grid can’t support AI’s energy demands. Post-2000s stagnation in electricity capacity clashes with AI’s voracious needs, forcing compromises: Residents near data centers face power-quality issues, while Cold War-era nuclear plants may reopen as stopgaps. Water scarcity further complicates cooling-intensive data centers.\n**The \"Too Big to Fail\" Bubble** \nAI now props up the U.S. economy. Estimates suggest $300–500 billion in 2024 data-center investments avert recession. The AI bubble dwarfs the dot-com era (17x larger) and 2008 crisis (4x). This dependency risks systemic collapse, diverting capital from other sectors.\nNVIDIA exemplifies this paradox. Despite slowing growth and reliability concerns with power-hungry new GPUs, it invests in GPU-leasing firms—essentially paying others to buy its chips. This self-reinforcing cycle sustains its valuation and U.S. GDP growth, mirroring a precarious \"left-foot-on-right-foot\" economic model.\n**Political and Theological Hype** \nThe Trump-linked Oracle-OpenAI deal reflects tech-right AI evangelism. Like religious fervor around \"creating life,\" AI’s mythos—embodied by dystopian sci-fi tropes—overrides rational analysis. Critics are dismissed as ignoring an \"inevitable\" AGI future, despite AGI’s undefined profitability and scalability limits.\n**China’s Contrast** \nSanctions inadvertently spared China’s AI sector from unchecked hype. Investments here fuel domestic semiconductor autonomy (e.g., HBM mass-production) and open-source ecosystems (e.g., DeepSeek’s TileLang-based models). Firms like Tencent back local GPU developers (Moore Threads, Tianshu Zhixin), advancing substitution.\n**Conclusion: The Inevitable Crash?** \nThe AI bubble’s burst could trigger global upheaval. Yet as with all \"too big to fail\" crises, preemptive solutions are unlikely. The tragedy awaits its curtain call—unless rationality prevails.","news_type":1,"symbols_score_info":{"NVD":1,"NVIW.SI":1,"NVDA":1,"NVDX":1,"SNVD.UK":1,"3NVD.UK":1,"NVD3.UK":1,"NVDL":1,"NVDU":1,"2NVD.UK":1,"NVDY":1,"NVD2.UK":1,"NVDS":1,"NVDD":1,"NVDS.UK":1}},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}