《From the SpaceX IPO mania：AI Feast》

The SpaceX IPO will be the largest in the world.。

From institutional funds to retail investors，Subscription demand is expected to be significantly exceeded.。What is more noteworthy is that，Once included in the main index and ETF system，Passive funds will form a considerable incremental buying in a very short period of time.，further amplify its valuation tension。

It's not just a high-profile IPO.。

More like a capital market-led「AI Feast」Money is growing at an unprecedented rate.，Fushes to technology targets with narrative capabilities and infrastructure attributes。

in this context，Market focus from ground to space，be pushed to new heights。

And it also reminds me，Last year with Bloomberg（Bloomberg）One company discussed-Moore Thread（Moore Threads），and its founder, Zhang Jianzhong。

That's how I described him.：「Choose to leave at the peak of your career，To build a national champion enterprise。」

As former general manager of NVIDIA China，Zhang Jianzhong was at the heart of the global AI and semiconductor industry.。But he chose to leave the mature system，Building China's own GPU and computing infrastructure from scratch。

It was a decision that seemed extremely risky at the time.。

However，Capital markets gave a strong response-Moore Thread's share price soared 425 per cent on its first day of trading.，Market capitalization close to $40 billion，Quickly ranked among the AI technology companies in the global spotlight。

on a tougher but more strategically valuable homegrown alternative path。This choice，MADE MOORE THREADE THREAD A COMPANY THREE。

If SpaceX's IPO mania，Reflects the impact of global capital on future technology leaders.「Competition for pricing power」，is the impact of capital markets on「AI + Space + Deep Technology」The high concentration of bets。

From an investment point of view，This is a classic source of asymmetric opportunity.。

Asymmetry Capital long-term concerns「AI + Web3」The structural trends。But if you sink the perspective further.，Whether it's AI applications or digital finance，are inseparable from physical supply and demand，Energy, for example.。

Who can master this layer，Who holds the key levers for the next decade?。