CITIC Securities: The volatility of global risk assets essentially stems from their excessive reliance on the single AI narrative.

BlockBeats News, November 23, a research report from CITIC Securities pointed out that the volatility of global risk assets is superficially a liquidity issue, but fundamentally, it is due to risk assets being overly reliant on the single narrative of AI. When the pace of industry development (especially commercialization) cannot keep up with the rhythm of the secondary market, appropriate valuation corrections are also a way to mitigate risks. The expansion of AI commercialization scenarios, hardware cost reductions, and rising financial stability risks forcing the Federal Reserve to cut interest rates ahead of schedule could all break the current deadlock. (Golden Ten Data)