+Follow
Rkly
No personal profile
2
Follow
0
Followers
0
Topic
0
Badge
Posts
Hot
Rkly
09-22 11:17
Too much and too often causing annoyance!
Meta's Muse Reignites Tech Stock Rally — Is the AI Boom Really Back? Wall Street Remains Divided
Go to Tiger App to see more news
{"i18n":{"language":"en_US"},"userPageInfo":{"id":"4211498479868532","uuid":"4211498479868532","gmtCreate":1748395291934,"gmtModify":1749263711884,"name":"Rkly","pinyin":"rkly","introduction":"","introductionEn":null,"signature":"","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":2,"tweetSize":1,"questionSize":0,"limitLevel":999,"accountStatus":4,"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":"success","userBadges":[{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive Tiger","description":"The transaction amount of the securities account reaches $300,000","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.03.26","exceedPercentage":"80.22%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.01.01","exceedPercentage":"80.83%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.09.24","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"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,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.07.17","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":12,"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":610387344454872,"gmtCreate":1790047048478,"gmtModify":1790047643122,"author":{"id":"4211498479868532","authorId":"4211498479868532","name":"Rkly","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4211498479868532","idStr":"4211498479868532"},"themes":[],"title":"","htmlText":"Too much and too often causing annoyance!","listText":"Too much and too often causing annoyance!","text":"Too much and too often causing annoyance!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/610387344454872","repostId":"1152062461","repostType":2,"repost":{"id":"1152062461","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":1790044819,"share":"https://ttm.financial/m/news/1152062461?lang=en_US&edition=fundamental","pubTime":"2026-09-22 10:40","market":"us","language":"en","title":"Meta's Muse Reignites Tech Stock Rally — Is the AI Boom Really Back? Wall Street Remains Divided","url":"https://stock-news.laohu8.com/highlight/detail?id=1152062461","media":"Deep News","summary":"The launch of Meta's AI agent Muse has reignited bets that consumer-grade artificial intelligence is finally hitting a mainstream inflection point, but Wall Street is split on whether this marks a...","content":"<html><head></head><body><p style=\"text-align: left;\">The launch of Meta's AI agent Muse has reignited bets that consumer-grade artificial intelligence is finally hitting a mainstream inflection point, but Wall Street is split on whether this marks a genuine return to the AI trade or just another fleeting spike.<br/><br/>On September 21, the Nasdaq 100 jumped roughly 2.83% to reclaim the 30,000-point level, its highest close since June. Yet Goldman Sachs trading desk analyst Peter Callahan called it a "quiet surge" — trading activity scored just 3 out of 10, the S&P 500 equal-weight index rose a mere 18 basis points, and the gains were heavily concentrated in mega-cap tech names.</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/86f176b6c7458b14d364d5ce6bb8b069\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\">"This is one of the rare ~3% Nasdaq rallies I can recall that felt so subdued," Callahan noted.<br/>The explosion of Muse-style products has directly opened up new demand for CPU chips, with ARM surging over 15% on the day, Intel climbing more than 12%, and AMD rising nearly 10%.<br/>Meanwhile, credit markets are diverging from equities: investment-grade CDS spreads have widened to a five-month high, signaling skepticism about the rally's staying power. Next week's earnings report from Micron Technology is being viewed as the key validation point for whether the AI infrastructure trade can hold.</p><p style=\"text-align: left;\"><strong>Muse: From Chatbot to an Agent That Gets Things Done</strong><br/><br/>The trigger for all of this was Meta's consumer AI agent, Muse, which launched on September 8. Unlike traditional conversational AI, Muse can autonomously execute multi-step tasks — booking travel, managing calendars, and completing e-commerce purchases — running continuously in the background rather than waiting for user commands.<br/><br/>Wells Fargo analyst Ken Gawrelski, citing SensorTower data in a client note, highlighted the following:<br/><br/>Muse hit 264,000 daily downloads on September 19, marking the third straight day above 200,000.<br/><br/>Daily active users peaked at 448,000 by day ten.<br/><br/>For comparison, ChatGPT took nearly a year to reach 200,000 daily downloads and 49 days to hit 450,000 daily active users.<br/><br/>Gawrelski raised his Meta price target from $640 to $796, maintaining an "Overweight" rating, and wrote: "Muse marks the shift of consumer AI from chatbots to AI assistants, and whoever gets to market first has the advantage — because the more an AI assistant is used, the more valuable it becomes."<br/><br/>Goldman Sachs trader Rich Privorotsky pointed out the strategic significance directly: "Meta has essentially built a direct-to-consumer agent factory — shopping, calling, subscriptions, admin tasks, increasingly acting on your behalf. The end state is clear: everyone will have dozens of agents helping with groceries, bill payments, holidays, and school arrangements. Your productivity becomes you plus your team of agents. This is a massive efficiency release and a massive compute multiplier."<br/><br/>Meta shares surged roughly 11% to 12% on the day, hitting their highest level since October 2025.</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0ab7ff824a2ad82b85ee3399cfabbd2e\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\"><br/><br/><strong>Why CPUs, Not Just GPUs, Are the Story</strong><br/><br/>The structure of the chip rally reveals the market's bet on a shifting AI architecture. On September 21, ARM Holdings (ASX: ARM) jumped over 15%, Intel climbed more than 12%, and AMD rose nearly 10% — all three are core CPU players, not the traditional AI compute narrative's usual protagonist, Nvidia.<br/><br/>According to market intelligence firm Vital Knowledge, early generative AI relied mainly on GPUs for isolated text and image generation tasks. AI agents, by contrast, need to run continuous background processes, logic loops, and local data orchestration, making agentic AI far more CPU-intensive than GPU-heavy workloads.<br/><br/>In other words, the explosion of Muse-style products has directly created new demand for CPU silicon.<br/><br/>AMD touched the $1 trillion market cap threshold for the first time on the day, surpassing JPMorgan and joining the ranks of Eli Lilly and Berkshire Hathaway. Goldman's Peter Callahan noted in a flash note: "If AMD overtakes those two names going forward, the S&P 500's top ten companies will all be TMT firms, each with a market cap above $1 trillion."<br/><br/>Additionally, reports indicate that OpenAI is accelerating development of a Muse-like consumer agent, with expectations of an industry arms race further lifting valuations across the CPU and cloud computing supply chain.<br/><br/><strong>A Quiet Surge with Sharp Internal Divergence</strong><br/><br/>Goldman's TMT desk flash note captured the session's character in one line: "The Nasdaq is back above 30,000, but this is one of the quietest ~3% rallies I can recall."<br/><br/>The day's data tells the story:<br/><br/>The S&P 500 equal-weight index rose just ~18 basis points, while the S&P 500 itself gained ~130 basis points — a spread that ranks among the top five single-day gaps in the past five-plus years.<br/><br/>The SOX semiconductor index posted a cumulative gain of nearly 12% over five trading days, its strongest five-day run since early August 2025.<br/><br/>Options activity hit a one-month high, with single-day call volume on AMD and Intel each exceeding 1 million contracts, near year-to-date peaks.<br/><br/>Media reports noted large tech call buying at the open, triggering an unusual combination of "spot up, volatility also up" — a hallmark of options-driven moves rather than fundamentals-led gains.<br/><br/>Goldman's desk also recorded roughly balanced buy/sell flows on the day: long-only funds (LO) were net buyers in communication services and information technology, while hedge funds (HF) added in communication services, financials, and consumer discretionary — but overall activity remained muted.<br/><br/><strong>Investors Are Skeptical: Fundamentals Are Solid, But the Move Feels Too Fast</strong><br/><br/>Goldman's TMT flash note directly captured investors' reactions: "Clients acknowledge the fundamentals are solid, but sentiment indicators are more cautious — we received a flood of 'this is moving too fast' and 'where's the price target?' inquiries."<br/><br/>Callahan noted this echoes recent conversations at Goldman's technology conferences, where investors show clear tension over whether to fully "re-enter the AI infrastructure trade." The reason: at the macro level, oil prices and rates pressure have recently overshadowed healthy fundamental signals like supply-demand commentary, return-on-capital data, and product updates. "It seems to be forming a pattern of 'buyers waiting at higher levels,'" he said.<br/><br/>In short: fundamentals are fine, but macro noise is keeping investors from chasing highs.<br/><br/><strong>The Credit Market Sends a Different Signal</strong><br/><br/>The equity market's optimism is not backed by credit markets. Bloomberg macro strategist Frank Monkam analyzed that despite the S&P 500 near record highs, investment-grade credit quality — as measured by 5-year investment-grade CDS — has deteriorated to a five-month low, and this divergence has widened steadily since the Fed's rate hike this month.<br/><br/>Monkam wrote: "Equities continue to price in resilient growth and earnings, plus a more optimistic narrative. Credit is doing the math, demanding higher risk compensation for corporates. This apparent mispricing begs the question: which market has the wrong read on risk premia? I lean toward the signal from higher up the capital structure ultimately having the final say."<br/><br/>Two markets, looking at the same corporate balance sheets, are arriving at very different answers.<br/><br/><strong>Oil and Rates: Temporary Relief or a Real Turning Point?</strong><br/><br/>Another macro backdrop to this tech rally is the pullback in oil prices. Brent crude fell below $100 per barrel. Satellite data showed Saudi Arabian oil loadings at Persian Gulf ports jumped sharply over the weekend to their highest since June, indicating the kingdom has shifted export routes back through the Strait of Hormuz after Red Sea pipeline disruptions from drone attacks.<br/><br/>The drop in oil helped push the 10-year Treasury yield back below 5%. Goldman's Rich Privorotsky characterized rates and rates volatility as "the biggest macro risk right now," noting: "The risk of rates and energy prices decoupling persists — oil has come down, but the effects of secondary inflation and global rate shocks are already baked in."<br/><br/><strong>The Next Catalyst: Micron's Earnings</strong><br/><br/>Goldman's TMT flash note closed by flagging the next focus for markets: "Away from conferences and geopolitics, the next catalyst on my radar is next week's Micron Technology earnings."<br/><br/>As a core supplier of AI memory chips, Micron Technology's report will directly test the real strength of AI infrastructure demand. Notably, within this round of chip gains, memory stocks have clearly lagged — SanDisk fell about 3% on the day, while Western Digital and Seagate were roughly flat — a sharp contrast to the CPU explosion.<br/><br/>Whether Micron Technology can bridge this gap will be a key reference for the market in judging whether the "return to AI trade" is sustainable.</p></body></html>","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>Meta's Muse Reignites Tech Stock Rally — Is the AI Boom Really Back? Wall Street Remains Divided</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\">\nMeta's Muse Reignites Tech Stock Rally — Is the AI Boom Really Back? Wall Street Remains Divided\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\">2026-09-22 10:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">The launch of Meta's AI agent Muse has reignited bets that consumer-grade artificial intelligence is finally hitting a mainstream inflection point, but Wall Street is split on whether this marks a genuine return to the AI trade or just another fleeting spike.<br/><br/>On September 21, the Nasdaq 100 jumped roughly 2.83% to reclaim the 30,000-point level, its highest close since June. Yet Goldman Sachs trading desk analyst Peter Callahan called it a "quiet surge" — trading activity scored just 3 out of 10, the S&P 500 equal-weight index rose a mere 18 basis points, and the gains were heavily concentrated in mega-cap tech names.</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/86f176b6c7458b14d364d5ce6bb8b069\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\">"This is one of the rare ~3% Nasdaq rallies I can recall that felt so subdued," Callahan noted.<br/>The explosion of Muse-style products has directly opened up new demand for CPU chips, with ARM surging over 15% on the day, Intel climbing more than 12%, and AMD rising nearly 10%.<br/>Meanwhile, credit markets are diverging from equities: investment-grade CDS spreads have widened to a five-month high, signaling skepticism about the rally's staying power. Next week's earnings report from Micron Technology is being viewed as the key validation point for whether the AI infrastructure trade can hold.</p><p style=\"text-align: left;\"><strong>Muse: From Chatbot to an Agent That Gets Things Done</strong><br/><br/>The trigger for all of this was Meta's consumer AI agent, Muse, which launched on September 8. Unlike traditional conversational AI, Muse can autonomously execute multi-step tasks — booking travel, managing calendars, and completing e-commerce purchases — running continuously in the background rather than waiting for user commands.<br/><br/>Wells Fargo analyst Ken Gawrelski, citing SensorTower data in a client note, highlighted the following:<br/><br/>Muse hit 264,000 daily downloads on September 19, marking the third straight day above 200,000.<br/><br/>Daily active users peaked at 448,000 by day ten.<br/><br/>For comparison, ChatGPT took nearly a year to reach 200,000 daily downloads and 49 days to hit 450,000 daily active users.<br/><br/>Gawrelski raised his Meta price target from $640 to $796, maintaining an "Overweight" rating, and wrote: "Muse marks the shift of consumer AI from chatbots to AI assistants, and whoever gets to market first has the advantage — because the more an AI assistant is used, the more valuable it becomes."<br/><br/>Goldman Sachs trader Rich Privorotsky pointed out the strategic significance directly: "Meta has essentially built a direct-to-consumer agent factory — shopping, calling, subscriptions, admin tasks, increasingly acting on your behalf. The end state is clear: everyone will have dozens of agents helping with groceries, bill payments, holidays, and school arrangements. Your productivity becomes you plus your team of agents. This is a massive efficiency release and a massive compute multiplier."<br/><br/>Meta shares surged roughly 11% to 12% on the day, hitting their highest level since October 2025.</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0ab7ff824a2ad82b85ee3399cfabbd2e\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\"><br/><br/><strong>Why CPUs, Not Just GPUs, Are the Story</strong><br/><br/>The structure of the chip rally reveals the market's bet on a shifting AI architecture. On September 21, ARM Holdings (ASX: ARM) jumped over 15%, Intel climbed more than 12%, and AMD rose nearly 10% — all three are core CPU players, not the traditional AI compute narrative's usual protagonist, Nvidia.<br/><br/>According to market intelligence firm Vital Knowledge, early generative AI relied mainly on GPUs for isolated text and image generation tasks. AI agents, by contrast, need to run continuous background processes, logic loops, and local data orchestration, making agentic AI far more CPU-intensive than GPU-heavy workloads.<br/><br/>In other words, the explosion of Muse-style products has directly created new demand for CPU silicon.<br/><br/>AMD touched the $1 trillion market cap threshold for the first time on the day, surpassing JPMorgan and joining the ranks of Eli Lilly and Berkshire Hathaway. Goldman's Peter Callahan noted in a flash note: "If AMD overtakes those two names going forward, the S&P 500's top ten companies will all be TMT firms, each with a market cap above $1 trillion."<br/><br/>Additionally, reports indicate that OpenAI is accelerating development of a Muse-like consumer agent, with expectations of an industry arms race further lifting valuations across the CPU and cloud computing supply chain.<br/><br/><strong>A Quiet Surge with Sharp Internal Divergence</strong><br/><br/>Goldman's TMT desk flash note captured the session's character in one line: "The Nasdaq is back above 30,000, but this is one of the quietest ~3% rallies I can recall."<br/><br/>The day's data tells the story:<br/><br/>The S&P 500 equal-weight index rose just ~18 basis points, while the S&P 500 itself gained ~130 basis points — a spread that ranks among the top five single-day gaps in the past five-plus years.<br/><br/>The SOX semiconductor index posted a cumulative gain of nearly 12% over five trading days, its strongest five-day run since early August 2025.<br/><br/>Options activity hit a one-month high, with single-day call volume on AMD and Intel each exceeding 1 million contracts, near year-to-date peaks.<br/><br/>Media reports noted large tech call buying at the open, triggering an unusual combination of "spot up, volatility also up" — a hallmark of options-driven moves rather than fundamentals-led gains.<br/><br/>Goldman's desk also recorded roughly balanced buy/sell flows on the day: long-only funds (LO) were net buyers in communication services and information technology, while hedge funds (HF) added in communication services, financials, and consumer discretionary — but overall activity remained muted.<br/><br/><strong>Investors Are Skeptical: Fundamentals Are Solid, But the Move Feels Too Fast</strong><br/><br/>Goldman's TMT flash note directly captured investors' reactions: "Clients acknowledge the fundamentals are solid, but sentiment indicators are more cautious — we received a flood of 'this is moving too fast' and 'where's the price target?' inquiries."<br/><br/>Callahan noted this echoes recent conversations at Goldman's technology conferences, where investors show clear tension over whether to fully "re-enter the AI infrastructure trade." The reason: at the macro level, oil prices and rates pressure have recently overshadowed healthy fundamental signals like supply-demand commentary, return-on-capital data, and product updates. "It seems to be forming a pattern of 'buyers waiting at higher levels,'" he said.<br/><br/>In short: fundamentals are fine, but macro noise is keeping investors from chasing highs.<br/><br/><strong>The Credit Market Sends a Different Signal</strong><br/><br/>The equity market's optimism is not backed by credit markets. Bloomberg macro strategist Frank Monkam analyzed that despite the S&P 500 near record highs, investment-grade credit quality — as measured by 5-year investment-grade CDS — has deteriorated to a five-month low, and this divergence has widened steadily since the Fed's rate hike this month.<br/><br/>Monkam wrote: "Equities continue to price in resilient growth and earnings, plus a more optimistic narrative. Credit is doing the math, demanding higher risk compensation for corporates. This apparent mispricing begs the question: which market has the wrong read on risk premia? I lean toward the signal from higher up the capital structure ultimately having the final say."<br/><br/>Two markets, looking at the same corporate balance sheets, are arriving at very different answers.<br/><br/><strong>Oil and Rates: Temporary Relief or a Real Turning Point?</strong><br/><br/>Another macro backdrop to this tech rally is the pullback in oil prices. Brent crude fell below $100 per barrel. Satellite data showed Saudi Arabian oil loadings at Persian Gulf ports jumped sharply over the weekend to their highest since June, indicating the kingdom has shifted export routes back through the Strait of Hormuz after Red Sea pipeline disruptions from drone attacks.<br/><br/>The drop in oil helped push the 10-year Treasury yield back below 5%. Goldman's Rich Privorotsky characterized rates and rates volatility as "the biggest macro risk right now," noting: "The risk of rates and energy prices decoupling persists — oil has come down, but the effects of secondary inflation and global rate shocks are already baked in."<br/><br/><strong>The Next Catalyst: Micron's Earnings</strong><br/><br/>Goldman's TMT flash note closed by flagging the next focus for markets: "Away from conferences and geopolitics, the next catalyst on my radar is next week's Micron Technology earnings."<br/><br/>As a core supplier of AI memory chips, Micron Technology's report will directly test the real strength of AI infrastructure demand. Notably, within this round of chip gains, memory stocks have clearly lagged — SanDisk fell about 3% on the day, while Western Digital and Seagate were roughly flat — a sharp contrast to the CPU explosion.<br/><br/>Whether Micron Technology can bridge this gap will be a key reference for the market in judging whether the "return to AI trade" is sustainable.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0061474960.USD":"天利环球焦点基金AU Acc","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","IE000F7OJYX1.SGD":"RQI GLOBAL \"I\" (SGDHDG) INC","LU2317271919.USD":"BGF FUTURE CONSUMER \"A2\" (USD) ACC","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","IE0000B7K699.USD":"RQI GLOBAL \"I\" (USD) INC","BK4077":"互动媒体与服务","IE000BZT7R73.USD":"RQI GLOBAL \"I\" (USD) ACC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","IE000MB6IJN5.SGD":"RQI GLOBAL \"I\" (SGD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","IETC":"iShares U.S. Tech Independence Focused ETF","AMDC":"Corgi AMD 2x Daily ETF","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","AMDD":"1倍做空AMD ETF-Direxion","LU2102340556.USD":"AZ ALLOCATION - RISK PARITY FACTOR \"A\" (USD) ACC","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","AMDG":"2倍做多AMD ETF- Leverage Shares","SPRX":"Spear Alpha ETF","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU2048586759.USD":"ALLIANZ SMART ENERGY \"AT\" (USD) ACC","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","DRMY":"XFUNDS Memory Income ETF","AMDL":"2倍做多AMD ETF-GraniteShares","LINT":"Direxion Daily INTC Bull 2X ETF","METD":"1倍做空META ETF-Direxion","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","METG":"Leverage Shares 2x Long META Daily ETF","AMDS":"GRANITESHARES 1X SHORT AMD DAILY ETF","SG9999002232.USD":"Allianz Global High Payout USD","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","IE000WAW04H5.SGD":"RQI GLOBAL \"I\" (SGD) INC A","AMDU":"Defiance Leveraged Long + Income AMD ETF","METQ":"Tradr 2X Short META Daily ETF","IE000SO60NU8.SGD":"RQI GLOBAL \"I\" (SGDHDG) ACC A","SG9999002224.SGD":"Allianz Global High Payout SGD","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","AMDW":"Roundhill AMD WeeklyPay ETF","METU":"2倍做多META ETF-Direxion","LU0552385451.USD":"摩根士丹利投资基金-环球机会基金 C","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU2242649171.HKD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (HKD) ACC","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","LU0079474960.USD":"联博美国增长基金A","AMDY":"AMD期权收益策略ETF-YieldMax","METV":"Roundhill Ball Metaverse ETF","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","METW":"Roundhill META WeeklyPay™ ETF","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","HK0000304805.HKD":"PICTET 战略收益基金 P类港元","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU1046421795.USD":"富达环球科技A-ACC","HK0000304797.USD":"PICTET 战略收益基金 P类 美元","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","FTXL":"First Trust Nasdaq Semiconductor ETF","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU2355687059.USD":"NORDEA 1 GLOBAL IMPACT \"BP\" (USD) ACC","SOCL":"社交媒体ETF-Global X","LU1670710661.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) INC","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","LU1670711123.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) INC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU0072462426.USD":"贝莱德全球配置 A2","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","IE0001KFT4U8.USD":"FTGF CLEARBRIDGE GLOBAL GROWTH LEADERS \"A\" (USD) INC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","IE0009G5SDU7.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) INC","LU0048584097.USD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","SHOC":"Strive U.S. Semiconductor ETF","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE000ITXATA3.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) ACC","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD) INC AV","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","IE000YTNTUN2.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG)INC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","AMD":"美国超微公司","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","AMUU":"2倍做多AMD ETF-Direxion","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","SOXQ":"Invesco PHLX Semiconductor ETF","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","BK4141":"半导体产品","AMYY":"GraniteShares YieldBOOST AMD ETF","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","SOXX":"iShares费城交易所半导体ETF","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","NULC":"Nuveen ESG Large-Cap ETF","LU2720916845.USD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (USD) ACC","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","SOXY":"YieldMax Target 12 Semiconductor Option Income ETF","LU0109392836.USD":"富兰克林科技股A","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","HK0000914660.USD":"GFI Global Select Equity Fund Class A (USD)","LU1732800096.USD":"摩根大通环球收益基金A (irc)","GXPC":"Global X PureCap MSCI Communication Services ETF","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU0444971666.USD":"天利全球科技基金","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","LU0859254822.USD":"T ROWE PRICE GLOBAL VALUE EQUITY \"A\" (USD) ACC","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","LU2357627491.SGD":"TRP GLOBAL VALUE EQUITY \"AH\" (SGDHDG) ACC","AIFD":"TCW Artificial Intelligence ETF","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","FXL":"First Trust Technology AlphaDEX Fund","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1935042488.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC","LU0251132253.USD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","QQQA":"ProShares Nasdaq-100 Dorsey Wright Momentum ETF","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","LU0882574139.USD":"富达环球消费行业基金A ACC","AIPI":"REX AI EQUITY PREMIUM INCOME ETF","BOBP":"CORE16 Best of Breed Premier Index ETF","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4566":"资本集团","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU0784385170.HKD":"BGF GLOBAL MULTI ASSET INCOME \"A6\" (HKDHGD) INC","AIQ":"Global X Artificial Intelligence & Technology ETF","BAI":"iShares A.I. Innovation and Tech Active ETF","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU0133085943.USD":"T ROWE PRICE US BLUE CHIP EQUITY \"A\" ACC","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","LU0174119429.USD":"T ROWE PRICE US LARGE CAP GROWTH EQUITY \"A\" ACC","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU2462591350.SGD":"T ROWE PRICE US LARGE CAP GROWTH EQUITY \"AN\" (SGDHDG) ACC","LU2244417387.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) ACC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","LU0784383803.USD":"BGF GLOBAL MULTI-ASSET INCOME FUND \"A\" (USD) INC A","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU2764262908.HKD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (HKD) ACC","AIS":"VistaShares Artificial Intelligence Supercycle ETF","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","TEK":"iShares Technology Opportunities Active ETF","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","HBMX":"Tuttle Capital Concentrated Memory Stack ETF","GAMR":"Amplify Video Game Leaders ETF","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","SG9999001424.SGD":"United E-Commerce Fund SGD","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","FTEC":"Fidelity MSCI Information Techno","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","FAI":"First Trust Bloomberg Artificial Intelligence ETF","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY \"A4\" (USD) INC","LU0724617625.USD":"BGF GLOBAL ALLOCATION \"A4\" (USD) INC","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","LU0788109477.HKD":"BGF GLOBAL ALLOCATION \"A2\" (HKDHGD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","USXF":"iShares ESG Advanced MSCI USA ETF","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","BK4543":"AI","LU1301847155.USD":"BGF GLOBAL MULTI-ASSET INCOME FUND \"A4G\" (USD) INC","EFIV":"SPDR S&P 500 ESG ETF","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LTL":"PROSHARES ULTRA COMMUNICATION SERVICES","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0080751232.USD":"富达环球多元动力基金A","LU2404859741.USD":"FUNDSMITH EQUITY FUND \"R\" (USD) INC","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","LU2404859667.USD":"FUNDSMITH EQUITY FUND \"R\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","LU1880398554.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) INC","CGGO":"Capital Group Global Growth Equity ETF","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU2764263039.SGD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (SGDHDG) ACC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU0690374961.EUR":"FUNDSMITH EQUITY \"R\" (EUR) INC","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","LU2764263203.CNY":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (CNYHDG) ACC","LU0690374615.EUR":"FUNDSMITH EQUITY \"R\" (EUR) ACC","INTC":"英特尔","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","LU2087625088.SGD":"ALLSPRING US ALL CAP GROWTH \"A\" (SGDHDG) ACC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","BK4554":"元宇宙及AR概念","EGGY":"NESTYIELD DYNAMIC INCOME SHIELD ETF","FBL":"2倍做多META ETF-GraniteShares","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1548497426.USD":"安联环球人工智能AT Acc","BK4553":"喜马拉雅资本持仓","INYY":"YieldMax INTC Option Income Strategy ETF","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4585":"ETF&股票定投概念","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","BK4587":"ChatGPT概念","META":"Meta Platforms, Inc.","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","FBX":"Corgi META 2x Daily ETF","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","BK4588":"碎股","FBY":"META期权收益策略ETF-YieldMax","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU1489326972.SGD":"First Eagle Amundi International AHS-MD SGD-H","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","FBYY":"GraniteShares YieldBOOST META ETF","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU2746668974.SGD":"MANULIFE DYNAMIC LEADERS \"AA\" (SGDHDG) ACC","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","RSPC":"Invesco S&P 500 Equal Weight Communication Services ETF","WUGI":"AXS Esoterica NextG Economy ETF","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","ILDR":"First Trust Innovation Leaders ETF","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU1127390331.HKD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A\" (HKD) ACC","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0949170426.SGD":"Blackrock Global Multi-Asset Income A6 SGD-H","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","BK4529":"IDC概念","XLC":"Communication Services Select Sector SPDR Fund","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU0784384876.USD":"Blackrock Global Multi-Asset Income A6 USD","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","LU2272731865.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AM\" (HKD) INC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","VOX":"电信业ETF-Vanguard","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","BK4605":"半导体精选","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","DISK":"Tema Memory ETF","SGXZ80539844.SGD":"ALLIANZ GLOBAL HIGH PAYOUT \"AMI\" (H2-SGD) INC","FCOM":"Fidelity MSCI Communication Services Index ETF","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0528227936.USD":"富达环球人口趋势基金A-ACC","BK4524":"宅经济概念","DAMD":"2倍做空AMD ETF-Defiance","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU2322448791.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (USD) INC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","BK4527":"明星科技股","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU1979441026.SGD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"A\" (SGDHDG) ACC","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LU2322448957.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (HKD) INC","BK4609":"英伟达持仓股","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4575":"芯片概念","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU2860962120.EUR":"CPR INVEST - ARTIFICIAL INTELLIGENCE \"A2\" (EUR) ACC A","LU1697837992.HKD":"BGF DYNAMIC HIGH INCOME \"A6\" (HKDHDG) INC","BK4612":"AI芯片","CHPS":"XTRACKERS SEMICONDUCTOR SELECT EQUITY ETF","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0985489474.SGD":"First Eagle Amundi International AHS-C SGD-H","BK4614":"Manus概念股","BK4579":"人工智能","CHPX":"Global X AI Semiconductor & Quantum ETF","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU0878866978.SGD":"First Eagle Amundi International AHS-QD SGD-H","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","XLK":"高科技指数ETF-SPDR","LU2473716301.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMF\" (USD) INC","ARTY":"ISHARES FUTURE AI & TECH ETF","LU2463028550.USD":"AB SICAV I AMERICAN MULTI-ASSET PORTFOLIO \"A\" (USD) ACC","SGXZ81514606.USD":"大华环球创新基金A Acc USD","LU0433182093.SGD":"First Eagle Amundi International AS-C SGD","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","BK4573":"虚拟现实","LU1564329115.USD":"Blackrock Dynamic High Income A6 USD","BK4532":"文艺复兴科技持仓","LU0068578508.USD":"First Eagle Amundi International Cl AU-C USD","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU1564329461.SGD":"Blackrock Dynamic High Income A6 SGD-H","LU0353189763.USD":"ALLSPRING US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","BK4534":"瑞士信贷持仓","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","LU1935043452.HKD":"宏利环球多元资产收益 \"AA\" 基金（港元）派息","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1 Acc SGD-H","BK4533":"AQR资本管理(全球第二大对冲基金)","VGT":"信息技术ETF-Vanguard","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"AG\" (USD) ACC","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","RULE":"Adaptive Core ETF","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC","LU0210536198.USD":"JPM US GROWTH \"A\" ACC","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","LU1564329032.USD":"BGF DYNAMIC HIGH INCOME \"A2\" (USD) ACC","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","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","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) 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","IE00B4YYXB79.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) ACC","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","OGIG":"ALPS O'Shares Global Internet Giants ETF","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","JGRO":"Jpmorgan Active Growth ETF","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","BK4507":"流媒体概念","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","TTEQ":"T. Rowe Price Technology ETF","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","XDAT":"Franklin Exponential Data ETF","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","WISE":"THEMES GENERATIVE ARTIFICIAL INTELLIGENCE ETF","SMH":"半导体指数ETF-HOLDRs","LU0149725797.USD":"汇丰美国股市经济规模基金","PSI":"INVESCO SEMICONDUCTORS ETF","WLDR":"Affinity World Leaders Equity ETF","TTXU":"Direxion Daily Technology Top 5 Bull 2X ETF","FDTX":"Fidelity Disruptive Technology ETF","SG9999015978.USD":"利安颠覆性创新基金A","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD) INC","LU0162691827.USD":"BGF US BASIC VALUE \"A4\" INC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","IXN":"iShares Trust S&P Global Informa","LU0784385840.USD":"Blackrock Global Multi-Asset Income A2 USD","SMHX":"VanEck Fabless Semiconductor ETF","LU2063271972.USD":"富兰克林创新领域基金","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","TRFK":"PACER DATA AND DIGITAL REVOLUTION ETF","LEGR":"First Trust Indxx Innovative Transaction & Process ETF","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","EMSF":"Matthews Emerging Markets Sustainable Future Active ETF","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","LU1791710582.SGD":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","LU0056508442.USD":"贝莱德世界科技基金A2","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","XNTK":"SPDR NYSE Technology ETF","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1261432733.SGD":"Fidelity World A-ACC-SGD","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. VL \"A\" (USD) ACC","LU2097829019.USD":"AZ EQUITY - BORLETTI GLOBAL LIFESTYLE \"AI\" (USD) ACC","LU2360107168.USD":"BGF NEXT GENERATION TECHNOLOGY \"A4\" (USD) INC","TRUC":"VanEck Communication Services TruSector ETF","LU1232071149.USD":"AZ FUND 1 GLOBAL GROWTH SELECTOR \"AAZ\" (USDHDG) ACC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU1564329628.SGD":"Blackrock Dynamic High Income A2 SGD-H","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","BK4512":"苹果概念","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","LU0726765562.USD":"JPM GLOBAL INCOME \"A\" (USD HEDGED) INC","LU1235294995.USD":"FIDELITY GLOBAL TECHNOLOGY \"A\" (USDHDG) ACC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","INT":"2倍做多INTC ETF-Corgi","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)","LU2347655073.USD":"JPM GLOBAL INCOME \"A\" (USDHDG) INC A","LU2381873111.SGD":"BGF SYSTEMATIC GLOBAL EQUITY HIGH INCOME \"A6\" (SGDHDG) INC","PTF":"Invesco Dorsey Wright Technology Momentum ETF","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","LU0070217475.USD":"JPM GLOBAL SELECT EQUITY \"A\" ACC","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","BK4592":"伊斯兰概念","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","INTW":"2倍做多INTC ETF-GraniteShares","SG9999001077.SGD":"United International Growth Fund SGD","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","CNAV":"Mohr Company Nav ETF","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152062461","content_text":"The launch of Meta's AI agent Muse has reignited bets that consumer-grade artificial intelligence is finally hitting a mainstream inflection point, but Wall Street is split on whether this marks a genuine return to the AI trade or just another fleeting spike.On September 21, the Nasdaq 100 jumped roughly 2.83% to reclaim the 30,000-point level, its highest close since June. Yet Goldman Sachs trading desk analyst Peter Callahan called it a \"quiet surge\" — trading activity scored just 3 out of 10, the S&P 500 equal-weight index rose a mere 18 basis points, and the gains were heavily concentrated in mega-cap tech names.\"This is one of the rare ~3% Nasdaq rallies I can recall that felt so subdued,\" Callahan noted.The explosion of Muse-style products has directly opened up new demand for CPU chips, with ARM surging over 15% on the day, Intel climbing more than 12%, and AMD rising nearly 10%.Meanwhile, credit markets are diverging from equities: investment-grade CDS spreads have widened to a five-month high, signaling skepticism about the rally's staying power. Next week's earnings report from Micron Technology is being viewed as the key validation point for whether the AI infrastructure trade can hold.Muse: From Chatbot to an Agent That Gets Things DoneThe trigger for all of this was Meta's consumer AI agent, Muse, which launched on September 8. Unlike traditional conversational AI, Muse can autonomously execute multi-step tasks — booking travel, managing calendars, and completing e-commerce purchases — running continuously in the background rather than waiting for user commands.Wells Fargo analyst Ken Gawrelski, citing SensorTower data in a client note, highlighted the following:Muse hit 264,000 daily downloads on September 19, marking the third straight day above 200,000.Daily active users peaked at 448,000 by day ten.For comparison, ChatGPT took nearly a year to reach 200,000 daily downloads and 49 days to hit 450,000 daily active users.Gawrelski raised his Meta price target from $640 to $796, maintaining an \"Overweight\" rating, and wrote: \"Muse marks the shift of consumer AI from chatbots to AI assistants, and whoever gets to market first has the advantage — because the more an AI assistant is used, the more valuable it becomes.\"Goldman Sachs trader Rich Privorotsky pointed out the strategic significance directly: \"Meta has essentially built a direct-to-consumer agent factory — shopping, calling, subscriptions, admin tasks, increasingly acting on your behalf. The end state is clear: everyone will have dozens of agents helping with groceries, bill payments, holidays, and school arrangements. Your productivity becomes you plus your team of agents. This is a massive efficiency release and a massive compute multiplier.\"Meta shares surged roughly 11% to 12% on the day, hitting their highest level since October 2025.Why CPUs, Not Just GPUs, Are the StoryThe structure of the chip rally reveals the market's bet on a shifting AI architecture. On September 21, ARM Holdings (ASX: ARM) jumped over 15%, Intel climbed more than 12%, and AMD rose nearly 10% — all three are core CPU players, not the traditional AI compute narrative's usual protagonist, Nvidia.According to market intelligence firm Vital Knowledge, early generative AI relied mainly on GPUs for isolated text and image generation tasks. AI agents, by contrast, need to run continuous background processes, logic loops, and local data orchestration, making agentic AI far more CPU-intensive than GPU-heavy workloads.In other words, the explosion of Muse-style products has directly created new demand for CPU silicon.AMD touched the $1 trillion market cap threshold for the first time on the day, surpassing JPMorgan and joining the ranks of Eli Lilly and Berkshire Hathaway. Goldman's Peter Callahan noted in a flash note: \"If AMD overtakes those two names going forward, the S&P 500's top ten companies will all be TMT firms, each with a market cap above $1 trillion.\"Additionally, reports indicate that OpenAI is accelerating development of a Muse-like consumer agent, with expectations of an industry arms race further lifting valuations across the CPU and cloud computing supply chain.A Quiet Surge with Sharp Internal DivergenceGoldman's TMT desk flash note captured the session's character in one line: \"The Nasdaq is back above 30,000, but this is one of the quietest ~3% rallies I can recall.\"The day's data tells the story:The S&P 500 equal-weight index rose just ~18 basis points, while the S&P 500 itself gained ~130 basis points — a spread that ranks among the top five single-day gaps in the past five-plus years.The SOX semiconductor index posted a cumulative gain of nearly 12% over five trading days, its strongest five-day run since early August 2025.Options activity hit a one-month high, with single-day call volume on AMD and Intel each exceeding 1 million contracts, near year-to-date peaks.Media reports noted large tech call buying at the open, triggering an unusual combination of \"spot up, volatility also up\" — a hallmark of options-driven moves rather than fundamentals-led gains.Goldman's desk also recorded roughly balanced buy/sell flows on the day: long-only funds (LO) were net buyers in communication services and information technology, while hedge funds (HF) added in communication services, financials, and consumer discretionary — but overall activity remained muted.Investors Are Skeptical: Fundamentals Are Solid, But the Move Feels Too FastGoldman's TMT flash note directly captured investors' reactions: \"Clients acknowledge the fundamentals are solid, but sentiment indicators are more cautious — we received a flood of 'this is moving too fast' and 'where's the price target?' inquiries.\"Callahan noted this echoes recent conversations at Goldman's technology conferences, where investors show clear tension over whether to fully \"re-enter the AI infrastructure trade.\" The reason: at the macro level, oil prices and rates pressure have recently overshadowed healthy fundamental signals like supply-demand commentary, return-on-capital data, and product updates. \"It seems to be forming a pattern of 'buyers waiting at higher levels,'\" he said.In short: fundamentals are fine, but macro noise is keeping investors from chasing highs.The Credit Market Sends a Different SignalThe equity market's optimism is not backed by credit markets. Bloomberg macro strategist Frank Monkam analyzed that despite the S&P 500 near record highs, investment-grade credit quality — as measured by 5-year investment-grade CDS — has deteriorated to a five-month low, and this divergence has widened steadily since the Fed's rate hike this month.Monkam wrote: \"Equities continue to price in resilient growth and earnings, plus a more optimistic narrative. Credit is doing the math, demanding higher risk compensation for corporates. This apparent mispricing begs the question: which market has the wrong read on risk premia? I lean toward the signal from higher up the capital structure ultimately having the final say.\"Two markets, looking at the same corporate balance sheets, are arriving at very different answers.Oil and Rates: Temporary Relief or a Real Turning Point?Another macro backdrop to this tech rally is the pullback in oil prices. Brent crude fell below $100 per barrel. Satellite data showed Saudi Arabian oil loadings at Persian Gulf ports jumped sharply over the weekend to their highest since June, indicating the kingdom has shifted export routes back through the Strait of Hormuz after Red Sea pipeline disruptions from drone attacks.The drop in oil helped push the 10-year Treasury yield back below 5%. Goldman's Rich Privorotsky characterized rates and rates volatility as \"the biggest macro risk right now,\" noting: \"The risk of rates and energy prices decoupling persists — oil has come down, but the effects of secondary inflation and global rate shocks are already baked in.\"The Next Catalyst: Micron's EarningsGoldman's TMT flash note closed by flagging the next focus for markets: \"Away from conferences and geopolitics, the next catalyst on my radar is next week's Micron Technology earnings.\"As a core supplier of AI memory chips, Micron Technology's report will directly test the real strength of AI infrastructure demand. Notably, within this round of chip gains, memory stocks have clearly lagged — SanDisk fell about 3% on the day, while Western Digital and Seagate were roughly flat — a sharp contrast to the CPU explosion.Whether Micron Technology can bridge this gap will be a key reference for the market in judging whether the \"return to AI trade\" is sustainable.","news_type":1,"symbols_score_info":{"AIFD":1,"AMDU":1,"DRMY":1,"AMDS":1,"AMDL":0.6,"FTEC":1,"TRUC":1,"CHPX":1,"AIQ":1,"FBY":0.6,"IXN":1,"AMDD":0.6,"LINT":0.6,"METG":0.6,"OGIG":1,"IETC":1,"FBYY":0.6,"FCOM":1,"INYY":0.6,"FBX":0.6,"FAI":1,"USXF":1,"AIS":1,"GXPC":1,"SOXQ":1,"AMDY":0.6,"SMHX":1,"XLK":1,"AMDG":0.6,"RULE":1,"VOX":1,"TTXU":1,"METV":1,"CNAV":1,"XLC":1,"WISE":1,"EMSF":1,"JGRO":1,"SOCL":1,"METQ":0.6,"FTXL":1,"META":2,"AMUU":0.6,"TEK":1,"DAMD":0.6,"SPRX":1,"VGT":1,"AMDW":0.6,"RSPC":1,"EGGY":1,"AMDC":0.6,"AMYY":0.6,"NULC":1,"PSI":1,"HBMX":1,"CGGO":1,"BAI":1,"INTW":0.6,"METU":0.6,"FBL":0.6,"ARTY":1,"TRFK":1,"FDTX":1,"CHAT":1,"SHOC":1,"XDAT":1,"SOXY":1,"WLDR":1,"EFIV":1,"GAMR":1,"QQQA":1,"AIPI":1,"TTEQ":1,"SMH":1,"WUGI":1,"PTF":1,"XNTK":1,"INTC":2,"CHPS":1,"SOXX":1,"FXL":1,"AMD":2,"METD":0.6,"INT":0.6,"BOBP":1,"ILDR":1,"LEGR":1,"LTL":1,"METW":0.6,"DISK":1}},"isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":610387344454872,"gmtCreate":1790047048478,"gmtModify":1790047643122,"author":{"id":"4211498479868532","authorId":"4211498479868532","name":"Rkly","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4211498479868532","authorIdStr":"4211498479868532"},"themes":[],"title":"","htmlText":"Too much and too often causing annoyance!","listText":"Too much and too often causing annoyance!","text":"Too much and too often causing annoyance!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/610387344454872","repostId":"1152062461","repostType":2,"repost":{"id":"1152062461","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":1790044819,"share":"https://ttm.financial/m/news/1152062461?lang=en_US&edition=fundamental","pubTime":"2026-09-22 10:40","market":"us","language":"en","title":"Meta's Muse Reignites Tech Stock Rally — Is the AI Boom Really Back? Wall Street Remains Divided","url":"https://stock-news.laohu8.com/highlight/detail?id=1152062461","media":"Deep News","summary":"The launch of Meta's AI agent Muse has reignited bets that consumer-grade artificial intelligence is finally hitting a mainstream inflection point, but Wall Street is split on whether this marks a...","content":"<html><head></head><body><p style=\"text-align: left;\">The launch of Meta's AI agent Muse has reignited bets that consumer-grade artificial intelligence is finally hitting a mainstream inflection point, but Wall Street is split on whether this marks a genuine return to the AI trade or just another fleeting spike.<br/><br/>On September 21, the Nasdaq 100 jumped roughly 2.83% to reclaim the 30,000-point level, its highest close since June. Yet Goldman Sachs trading desk analyst Peter Callahan called it a "quiet surge" — trading activity scored just 3 out of 10, the S&P 500 equal-weight index rose a mere 18 basis points, and the gains were heavily concentrated in mega-cap tech names.</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/86f176b6c7458b14d364d5ce6bb8b069\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\">"This is one of the rare ~3% Nasdaq rallies I can recall that felt so subdued," Callahan noted.<br/>The explosion of Muse-style products has directly opened up new demand for CPU chips, with ARM surging over 15% on the day, Intel climbing more than 12%, and AMD rising nearly 10%.<br/>Meanwhile, credit markets are diverging from equities: investment-grade CDS spreads have widened to a five-month high, signaling skepticism about the rally's staying power. Next week's earnings report from Micron Technology is being viewed as the key validation point for whether the AI infrastructure trade can hold.</p><p style=\"text-align: left;\"><strong>Muse: From Chatbot to an Agent That Gets Things Done</strong><br/><br/>The trigger for all of this was Meta's consumer AI agent, Muse, which launched on September 8. Unlike traditional conversational AI, Muse can autonomously execute multi-step tasks — booking travel, managing calendars, and completing e-commerce purchases — running continuously in the background rather than waiting for user commands.<br/><br/>Wells Fargo analyst Ken Gawrelski, citing SensorTower data in a client note, highlighted the following:<br/><br/>Muse hit 264,000 daily downloads on September 19, marking the third straight day above 200,000.<br/><br/>Daily active users peaked at 448,000 by day ten.<br/><br/>For comparison, ChatGPT took nearly a year to reach 200,000 daily downloads and 49 days to hit 450,000 daily active users.<br/><br/>Gawrelski raised his Meta price target from $640 to $796, maintaining an "Overweight" rating, and wrote: "Muse marks the shift of consumer AI from chatbots to AI assistants, and whoever gets to market first has the advantage — because the more an AI assistant is used, the more valuable it becomes."<br/><br/>Goldman Sachs trader Rich Privorotsky pointed out the strategic significance directly: "Meta has essentially built a direct-to-consumer agent factory — shopping, calling, subscriptions, admin tasks, increasingly acting on your behalf. The end state is clear: everyone will have dozens of agents helping with groceries, bill payments, holidays, and school arrangements. Your productivity becomes you plus your team of agents. This is a massive efficiency release and a massive compute multiplier."<br/><br/>Meta shares surged roughly 11% to 12% on the day, hitting their highest level since October 2025.</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0ab7ff824a2ad82b85ee3399cfabbd2e\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\"><br/><br/><strong>Why CPUs, Not Just GPUs, Are the Story</strong><br/><br/>The structure of the chip rally reveals the market's bet on a shifting AI architecture. On September 21, ARM Holdings (ASX: ARM) jumped over 15%, Intel climbed more than 12%, and AMD rose nearly 10% — all three are core CPU players, not the traditional AI compute narrative's usual protagonist, Nvidia.<br/><br/>According to market intelligence firm Vital Knowledge, early generative AI relied mainly on GPUs for isolated text and image generation tasks. AI agents, by contrast, need to run continuous background processes, logic loops, and local data orchestration, making agentic AI far more CPU-intensive than GPU-heavy workloads.<br/><br/>In other words, the explosion of Muse-style products has directly created new demand for CPU silicon.<br/><br/>AMD touched the $1 trillion market cap threshold for the first time on the day, surpassing JPMorgan and joining the ranks of Eli Lilly and Berkshire Hathaway. Goldman's Peter Callahan noted in a flash note: "If AMD overtakes those two names going forward, the S&P 500's top ten companies will all be TMT firms, each with a market cap above $1 trillion."<br/><br/>Additionally, reports indicate that OpenAI is accelerating development of a Muse-like consumer agent, with expectations of an industry arms race further lifting valuations across the CPU and cloud computing supply chain.<br/><br/><strong>A Quiet Surge with Sharp Internal Divergence</strong><br/><br/>Goldman's TMT desk flash note captured the session's character in one line: "The Nasdaq is back above 30,000, but this is one of the quietest ~3% rallies I can recall."<br/><br/>The day's data tells the story:<br/><br/>The S&P 500 equal-weight index rose just ~18 basis points, while the S&P 500 itself gained ~130 basis points — a spread that ranks among the top five single-day gaps in the past five-plus years.<br/><br/>The SOX semiconductor index posted a cumulative gain of nearly 12% over five trading days, its strongest five-day run since early August 2025.<br/><br/>Options activity hit a one-month high, with single-day call volume on AMD and Intel each exceeding 1 million contracts, near year-to-date peaks.<br/><br/>Media reports noted large tech call buying at the open, triggering an unusual combination of "spot up, volatility also up" — a hallmark of options-driven moves rather than fundamentals-led gains.<br/><br/>Goldman's desk also recorded roughly balanced buy/sell flows on the day: long-only funds (LO) were net buyers in communication services and information technology, while hedge funds (HF) added in communication services, financials, and consumer discretionary — but overall activity remained muted.<br/><br/><strong>Investors Are Skeptical: Fundamentals Are Solid, But the Move Feels Too Fast</strong><br/><br/>Goldman's TMT flash note directly captured investors' reactions: "Clients acknowledge the fundamentals are solid, but sentiment indicators are more cautious — we received a flood of 'this is moving too fast' and 'where's the price target?' inquiries."<br/><br/>Callahan noted this echoes recent conversations at Goldman's technology conferences, where investors show clear tension over whether to fully "re-enter the AI infrastructure trade." The reason: at the macro level, oil prices and rates pressure have recently overshadowed healthy fundamental signals like supply-demand commentary, return-on-capital data, and product updates. "It seems to be forming a pattern of 'buyers waiting at higher levels,'" he said.<br/><br/>In short: fundamentals are fine, but macro noise is keeping investors from chasing highs.<br/><br/><strong>The Credit Market Sends a Different Signal</strong><br/><br/>The equity market's optimism is not backed by credit markets. Bloomberg macro strategist Frank Monkam analyzed that despite the S&P 500 near record highs, investment-grade credit quality — as measured by 5-year investment-grade CDS — has deteriorated to a five-month low, and this divergence has widened steadily since the Fed's rate hike this month.<br/><br/>Monkam wrote: "Equities continue to price in resilient growth and earnings, plus a more optimistic narrative. Credit is doing the math, demanding higher risk compensation for corporates. This apparent mispricing begs the question: which market has the wrong read on risk premia? I lean toward the signal from higher up the capital structure ultimately having the final say."<br/><br/>Two markets, looking at the same corporate balance sheets, are arriving at very different answers.<br/><br/><strong>Oil and Rates: Temporary Relief or a Real Turning Point?</strong><br/><br/>Another macro backdrop to this tech rally is the pullback in oil prices. Brent crude fell below $100 per barrel. Satellite data showed Saudi Arabian oil loadings at Persian Gulf ports jumped sharply over the weekend to their highest since June, indicating the kingdom has shifted export routes back through the Strait of Hormuz after Red Sea pipeline disruptions from drone attacks.<br/><br/>The drop in oil helped push the 10-year Treasury yield back below 5%. Goldman's Rich Privorotsky characterized rates and rates volatility as "the biggest macro risk right now," noting: "The risk of rates and energy prices decoupling persists — oil has come down, but the effects of secondary inflation and global rate shocks are already baked in."<br/><br/><strong>The Next Catalyst: Micron's Earnings</strong><br/><br/>Goldman's TMT flash note closed by flagging the next focus for markets: "Away from conferences and geopolitics, the next catalyst on my radar is next week's Micron Technology earnings."<br/><br/>As a core supplier of AI memory chips, Micron Technology's report will directly test the real strength of AI infrastructure demand. Notably, within this round of chip gains, memory stocks have clearly lagged — SanDisk fell about 3% on the day, while Western Digital and Seagate were roughly flat — a sharp contrast to the CPU explosion.<br/><br/>Whether Micron Technology can bridge this gap will be a key reference for the market in judging whether the "return to AI trade" is sustainable.</p></body></html>","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>Meta's Muse Reignites Tech Stock Rally — Is the AI Boom Really Back? Wall Street Remains Divided</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\">\nMeta's Muse Reignites Tech Stock Rally — Is the AI Boom Really Back? Wall Street Remains Divided\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\">2026-09-22 10:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">The launch of Meta's AI agent Muse has reignited bets that consumer-grade artificial intelligence is finally hitting a mainstream inflection point, but Wall Street is split on whether this marks a genuine return to the AI trade or just another fleeting spike.<br/><br/>On September 21, the Nasdaq 100 jumped roughly 2.83% to reclaim the 30,000-point level, its highest close since June. Yet Goldman Sachs trading desk analyst Peter Callahan called it a "quiet surge" — trading activity scored just 3 out of 10, the S&P 500 equal-weight index rose a mere 18 basis points, and the gains were heavily concentrated in mega-cap tech names.</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/86f176b6c7458b14d364d5ce6bb8b069\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\">"This is one of the rare ~3% Nasdaq rallies I can recall that felt so subdued," Callahan noted.<br/>The explosion of Muse-style products has directly opened up new demand for CPU chips, with ARM surging over 15% on the day, Intel climbing more than 12%, and AMD rising nearly 10%.<br/>Meanwhile, credit markets are diverging from equities: investment-grade CDS spreads have widened to a five-month high, signaling skepticism about the rally's staying power. Next week's earnings report from Micron Technology is being viewed as the key validation point for whether the AI infrastructure trade can hold.</p><p style=\"text-align: left;\"><strong>Muse: From Chatbot to an Agent That Gets Things Done</strong><br/><br/>The trigger for all of this was Meta's consumer AI agent, Muse, which launched on September 8. Unlike traditional conversational AI, Muse can autonomously execute multi-step tasks — booking travel, managing calendars, and completing e-commerce purchases — running continuously in the background rather than waiting for user commands.<br/><br/>Wells Fargo analyst Ken Gawrelski, citing SensorTower data in a client note, highlighted the following:<br/><br/>Muse hit 264,000 daily downloads on September 19, marking the third straight day above 200,000.<br/><br/>Daily active users peaked at 448,000 by day ten.<br/><br/>For comparison, ChatGPT took nearly a year to reach 200,000 daily downloads and 49 days to hit 450,000 daily active users.<br/><br/>Gawrelski raised his Meta price target from $640 to $796, maintaining an "Overweight" rating, and wrote: "Muse marks the shift of consumer AI from chatbots to AI assistants, and whoever gets to market first has the advantage — because the more an AI assistant is used, the more valuable it becomes."<br/><br/>Goldman Sachs trader Rich Privorotsky pointed out the strategic significance directly: "Meta has essentially built a direct-to-consumer agent factory — shopping, calling, subscriptions, admin tasks, increasingly acting on your behalf. The end state is clear: everyone will have dozens of agents helping with groceries, bill payments, holidays, and school arrangements. Your productivity becomes you plus your team of agents. This is a massive efficiency release and a massive compute multiplier."<br/><br/>Meta shares surged roughly 11% to 12% on the day, hitting their highest level since October 2025.</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0ab7ff824a2ad82b85ee3399cfabbd2e\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\"><br/><br/><strong>Why CPUs, Not Just GPUs, Are the Story</strong><br/><br/>The structure of the chip rally reveals the market's bet on a shifting AI architecture. On September 21, ARM Holdings (ASX: ARM) jumped over 15%, Intel climbed more than 12%, and AMD rose nearly 10% — all three are core CPU players, not the traditional AI compute narrative's usual protagonist, Nvidia.<br/><br/>According to market intelligence firm Vital Knowledge, early generative AI relied mainly on GPUs for isolated text and image generation tasks. AI agents, by contrast, need to run continuous background processes, logic loops, and local data orchestration, making agentic AI far more CPU-intensive than GPU-heavy workloads.<br/><br/>In other words, the explosion of Muse-style products has directly created new demand for CPU silicon.<br/><br/>AMD touched the $1 trillion market cap threshold for the first time on the day, surpassing JPMorgan and joining the ranks of Eli Lilly and Berkshire Hathaway. Goldman's Peter Callahan noted in a flash note: "If AMD overtakes those two names going forward, the S&P 500's top ten companies will all be TMT firms, each with a market cap above $1 trillion."<br/><br/>Additionally, reports indicate that OpenAI is accelerating development of a Muse-like consumer agent, with expectations of an industry arms race further lifting valuations across the CPU and cloud computing supply chain.<br/><br/><strong>A Quiet Surge with Sharp Internal Divergence</strong><br/><br/>Goldman's TMT desk flash note captured the session's character in one line: "The Nasdaq is back above 30,000, but this is one of the quietest ~3% rallies I can recall."<br/><br/>The day's data tells the story:<br/><br/>The S&P 500 equal-weight index rose just ~18 basis points, while the S&P 500 itself gained ~130 basis points — a spread that ranks among the top five single-day gaps in the past five-plus years.<br/><br/>The SOX semiconductor index posted a cumulative gain of nearly 12% over five trading days, its strongest five-day run since early August 2025.<br/><br/>Options activity hit a one-month high, with single-day call volume on AMD and Intel each exceeding 1 million contracts, near year-to-date peaks.<br/><br/>Media reports noted large tech call buying at the open, triggering an unusual combination of "spot up, volatility also up" — a hallmark of options-driven moves rather than fundamentals-led gains.<br/><br/>Goldman's desk also recorded roughly balanced buy/sell flows on the day: long-only funds (LO) were net buyers in communication services and information technology, while hedge funds (HF) added in communication services, financials, and consumer discretionary — but overall activity remained muted.<br/><br/><strong>Investors Are Skeptical: Fundamentals Are Solid, But the Move Feels Too Fast</strong><br/><br/>Goldman's TMT flash note directly captured investors' reactions: "Clients acknowledge the fundamentals are solid, but sentiment indicators are more cautious — we received a flood of 'this is moving too fast' and 'where's the price target?' inquiries."<br/><br/>Callahan noted this echoes recent conversations at Goldman's technology conferences, where investors show clear tension over whether to fully "re-enter the AI infrastructure trade." The reason: at the macro level, oil prices and rates pressure have recently overshadowed healthy fundamental signals like supply-demand commentary, return-on-capital data, and product updates. "It seems to be forming a pattern of 'buyers waiting at higher levels,'" he said.<br/><br/>In short: fundamentals are fine, but macro noise is keeping investors from chasing highs.<br/><br/><strong>The Credit Market Sends a Different Signal</strong><br/><br/>The equity market's optimism is not backed by credit markets. Bloomberg macro strategist Frank Monkam analyzed that despite the S&P 500 near record highs, investment-grade credit quality — as measured by 5-year investment-grade CDS — has deteriorated to a five-month low, and this divergence has widened steadily since the Fed's rate hike this month.<br/><br/>Monkam wrote: "Equities continue to price in resilient growth and earnings, plus a more optimistic narrative. Credit is doing the math, demanding higher risk compensation for corporates. This apparent mispricing begs the question: which market has the wrong read on risk premia? I lean toward the signal from higher up the capital structure ultimately having the final say."<br/><br/>Two markets, looking at the same corporate balance sheets, are arriving at very different answers.<br/><br/><strong>Oil and Rates: Temporary Relief or a Real Turning Point?</strong><br/><br/>Another macro backdrop to this tech rally is the pullback in oil prices. Brent crude fell below $100 per barrel. Satellite data showed Saudi Arabian oil loadings at Persian Gulf ports jumped sharply over the weekend to their highest since June, indicating the kingdom has shifted export routes back through the Strait of Hormuz after Red Sea pipeline disruptions from drone attacks.<br/><br/>The drop in oil helped push the 10-year Treasury yield back below 5%. Goldman's Rich Privorotsky characterized rates and rates volatility as "the biggest macro risk right now," noting: "The risk of rates and energy prices decoupling persists — oil has come down, but the effects of secondary inflation and global rate shocks are already baked in."<br/><br/><strong>The Next Catalyst: Micron's Earnings</strong><br/><br/>Goldman's TMT flash note closed by flagging the next focus for markets: "Away from conferences and geopolitics, the next catalyst on my radar is next week's Micron Technology earnings."<br/><br/>As a core supplier of AI memory chips, Micron Technology's report will directly test the real strength of AI infrastructure demand. Notably, within this round of chip gains, memory stocks have clearly lagged — SanDisk fell about 3% on the day, while Western Digital and Seagate were roughly flat — a sharp contrast to the CPU explosion.<br/><br/>Whether Micron Technology can bridge this gap will be a key reference for the market in judging whether the "return to AI trade" is sustainable.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0061474960.USD":"天利环球焦点基金AU Acc","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","IE000F7OJYX1.SGD":"RQI GLOBAL \"I\" (SGDHDG) INC","LU2317271919.USD":"BGF FUTURE CONSUMER \"A2\" (USD) ACC","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","IE0000B7K699.USD":"RQI GLOBAL \"I\" (USD) INC","BK4077":"互动媒体与服务","IE000BZT7R73.USD":"RQI GLOBAL \"I\" (USD) ACC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","IE000MB6IJN5.SGD":"RQI GLOBAL \"I\" (SGD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","IETC":"iShares U.S. Tech Independence Focused ETF","AMDC":"Corgi AMD 2x Daily ETF","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","AMDD":"1倍做空AMD ETF-Direxion","LU2102340556.USD":"AZ ALLOCATION - RISK PARITY FACTOR \"A\" (USD) ACC","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","AMDG":"2倍做多AMD ETF- Leverage Shares","SPRX":"Spear Alpha ETF","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU2048586759.USD":"ALLIANZ SMART ENERGY \"AT\" (USD) ACC","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","DRMY":"XFUNDS Memory Income ETF","AMDL":"2倍做多AMD ETF-GraniteShares","LINT":"Direxion Daily INTC Bull 2X ETF","METD":"1倍做空META ETF-Direxion","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","METG":"Leverage Shares 2x Long META Daily ETF","AMDS":"GRANITESHARES 1X SHORT AMD DAILY ETF","SG9999002232.USD":"Allianz Global High Payout USD","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","IE000WAW04H5.SGD":"RQI GLOBAL \"I\" (SGD) INC A","AMDU":"Defiance Leveraged Long + Income AMD ETF","METQ":"Tradr 2X Short META Daily ETF","IE000SO60NU8.SGD":"RQI GLOBAL \"I\" (SGDHDG) ACC A","SG9999002224.SGD":"Allianz Global High Payout SGD","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","AMDW":"Roundhill AMD WeeklyPay ETF","METU":"2倍做多META ETF-Direxion","LU0552385451.USD":"摩根士丹利投资基金-环球机会基金 C","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU2242649171.HKD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (HKD) ACC","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","LU0079474960.USD":"联博美国增长基金A","AMDY":"AMD期权收益策略ETF-YieldMax","METV":"Roundhill Ball Metaverse ETF","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","METW":"Roundhill META WeeklyPay™ ETF","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","HK0000304805.HKD":"PICTET 战略收益基金 P类港元","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU1046421795.USD":"富达环球科技A-ACC","HK0000304797.USD":"PICTET 战略收益基金 P类 美元","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","FTXL":"First Trust Nasdaq Semiconductor ETF","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU2355687059.USD":"NORDEA 1 GLOBAL IMPACT \"BP\" (USD) ACC","SOCL":"社交媒体ETF-Global X","LU1670710661.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) INC","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","LU1670711123.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) INC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU0072462426.USD":"贝莱德全球配置 A2","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","IE0001KFT4U8.USD":"FTGF CLEARBRIDGE GLOBAL GROWTH LEADERS \"A\" (USD) INC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","IE0009G5SDU7.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) INC","LU0048584097.USD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","SHOC":"Strive U.S. Semiconductor ETF","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE000ITXATA3.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) ACC","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD) INC AV","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","IE000YTNTUN2.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG)INC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","AMD":"美国超微公司","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","AMUU":"2倍做多AMD ETF-Direxion","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","SOXQ":"Invesco PHLX Semiconductor ETF","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","BK4141":"半导体产品","AMYY":"GraniteShares YieldBOOST AMD ETF","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","SOXX":"iShares费城交易所半导体ETF","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","NULC":"Nuveen ESG Large-Cap ETF","LU2720916845.USD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (USD) ACC","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","SOXY":"YieldMax Target 12 Semiconductor Option Income ETF","LU0109392836.USD":"富兰克林科技股A","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","HK0000914660.USD":"GFI Global Select Equity Fund Class A (USD)","LU1732800096.USD":"摩根大通环球收益基金A (irc)","GXPC":"Global X PureCap MSCI Communication Services ETF","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU0444971666.USD":"天利全球科技基金","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","LU0859254822.USD":"T ROWE PRICE GLOBAL VALUE EQUITY \"A\" (USD) ACC","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","LU2357627491.SGD":"TRP GLOBAL VALUE EQUITY \"AH\" (SGDHDG) ACC","AIFD":"TCW Artificial Intelligence ETF","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","FXL":"First Trust Technology AlphaDEX Fund","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1935042488.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC","LU0251132253.USD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","QQQA":"ProShares Nasdaq-100 Dorsey Wright Momentum ETF","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","LU0882574139.USD":"富达环球消费行业基金A ACC","AIPI":"REX AI EQUITY PREMIUM INCOME ETF","BOBP":"CORE16 Best of Breed Premier Index ETF","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4566":"资本集团","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU0784385170.HKD":"BGF GLOBAL MULTI ASSET INCOME \"A6\" (HKDHGD) INC","AIQ":"Global X Artificial Intelligence & Technology ETF","BAI":"iShares A.I. Innovation and Tech Active ETF","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU0133085943.USD":"T ROWE PRICE US BLUE CHIP EQUITY \"A\" ACC","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","LU0174119429.USD":"T ROWE PRICE US LARGE CAP GROWTH EQUITY \"A\" ACC","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU2462591350.SGD":"T ROWE PRICE US LARGE CAP GROWTH EQUITY \"AN\" (SGDHDG) ACC","LU2244417387.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) ACC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","LU0784383803.USD":"BGF GLOBAL MULTI-ASSET INCOME FUND \"A\" (USD) INC A","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU2764262908.HKD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (HKD) ACC","AIS":"VistaShares Artificial Intelligence Supercycle ETF","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","TEK":"iShares Technology Opportunities Active ETF","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","HBMX":"Tuttle Capital Concentrated Memory Stack ETF","GAMR":"Amplify Video Game Leaders ETF","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","SG9999001424.SGD":"United E-Commerce Fund SGD","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","FTEC":"Fidelity MSCI Information Techno","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","FAI":"First Trust Bloomberg Artificial Intelligence ETF","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY \"A4\" (USD) INC","LU0724617625.USD":"BGF GLOBAL ALLOCATION \"A4\" (USD) INC","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","LU0788109477.HKD":"BGF GLOBAL ALLOCATION \"A2\" (HKDHGD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","USXF":"iShares ESG Advanced MSCI USA ETF","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","BK4543":"AI","LU1301847155.USD":"BGF GLOBAL MULTI-ASSET INCOME FUND \"A4G\" (USD) INC","EFIV":"SPDR S&P 500 ESG ETF","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LTL":"PROSHARES ULTRA COMMUNICATION SERVICES","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0080751232.USD":"富达环球多元动力基金A","LU2404859741.USD":"FUNDSMITH EQUITY FUND \"R\" (USD) INC","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","LU2404859667.USD":"FUNDSMITH EQUITY FUND \"R\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","LU1880398554.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) INC","CGGO":"Capital Group Global Growth Equity ETF","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU2764263039.SGD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (SGDHDG) ACC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU0690374961.EUR":"FUNDSMITH EQUITY \"R\" (EUR) INC","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","LU2764263203.CNY":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (CNYHDG) ACC","LU0690374615.EUR":"FUNDSMITH EQUITY \"R\" (EUR) ACC","INTC":"英特尔","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","LU2087625088.SGD":"ALLSPRING US ALL CAP GROWTH \"A\" (SGDHDG) ACC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","BK4554":"元宇宙及AR概念","EGGY":"NESTYIELD DYNAMIC INCOME SHIELD ETF","FBL":"2倍做多META ETF-GraniteShares","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1548497426.USD":"安联环球人工智能AT Acc","BK4553":"喜马拉雅资本持仓","INYY":"YieldMax INTC Option Income Strategy ETF","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4585":"ETF&股票定投概念","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","BK4587":"ChatGPT概念","META":"Meta Platforms, Inc.","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","FBX":"Corgi META 2x Daily ETF","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","BK4588":"碎股","FBY":"META期权收益策略ETF-YieldMax","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU1489326972.SGD":"First Eagle Amundi International AHS-MD SGD-H","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","FBYY":"GraniteShares YieldBOOST META ETF","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU2746668974.SGD":"MANULIFE DYNAMIC LEADERS \"AA\" (SGDHDG) ACC","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","RSPC":"Invesco S&P 500 Equal Weight Communication Services ETF","WUGI":"AXS Esoterica NextG Economy ETF","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","ILDR":"First Trust Innovation Leaders ETF","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU1127390331.HKD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A\" (HKD) ACC","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0949170426.SGD":"Blackrock Global Multi-Asset Income A6 SGD-H","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","BK4529":"IDC概念","XLC":"Communication Services Select Sector SPDR Fund","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU0784384876.USD":"Blackrock Global Multi-Asset Income A6 USD","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","LU2272731865.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AM\" (HKD) INC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","VOX":"电信业ETF-Vanguard","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","BK4605":"半导体精选","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","DISK":"Tema Memory ETF","SGXZ80539844.SGD":"ALLIANZ GLOBAL HIGH PAYOUT \"AMI\" (H2-SGD) INC","FCOM":"Fidelity MSCI Communication Services Index ETF","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0528227936.USD":"富达环球人口趋势基金A-ACC","BK4524":"宅经济概念","DAMD":"2倍做空AMD ETF-Defiance","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU2322448791.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (USD) INC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","BK4527":"明星科技股","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU1979441026.SGD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"A\" (SGDHDG) ACC","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LU2322448957.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (HKD) INC","BK4609":"英伟达持仓股","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4575":"芯片概念","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU2860962120.EUR":"CPR INVEST - ARTIFICIAL INTELLIGENCE \"A2\" (EUR) ACC A","LU1697837992.HKD":"BGF DYNAMIC HIGH INCOME \"A6\" (HKDHDG) INC","BK4612":"AI芯片","CHPS":"XTRACKERS SEMICONDUCTOR SELECT EQUITY ETF","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0985489474.SGD":"First Eagle Amundi International AHS-C SGD-H","BK4614":"Manus概念股","BK4579":"人工智能","CHPX":"Global X AI Semiconductor & Quantum ETF","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU0878866978.SGD":"First Eagle Amundi International AHS-QD SGD-H","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","XLK":"高科技指数ETF-SPDR","LU2473716301.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMF\" (USD) INC","ARTY":"ISHARES FUTURE AI & TECH ETF","LU2463028550.USD":"AB SICAV I AMERICAN MULTI-ASSET PORTFOLIO \"A\" (USD) ACC","SGXZ81514606.USD":"大华环球创新基金A Acc USD","LU0433182093.SGD":"First Eagle Amundi International AS-C SGD","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","BK4573":"虚拟现实","LU1564329115.USD":"Blackrock Dynamic High Income A6 USD","BK4532":"文艺复兴科技持仓","LU0068578508.USD":"First Eagle Amundi International Cl AU-C USD","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU1564329461.SGD":"Blackrock Dynamic High Income A6 SGD-H","LU0353189763.USD":"ALLSPRING US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","BK4534":"瑞士信贷持仓","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","LU1935043452.HKD":"宏利环球多元资产收益 \"AA\" 基金（港元）派息","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1 Acc SGD-H","BK4533":"AQR资本管理(全球第二大对冲基金)","VGT":"信息技术ETF-Vanguard","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"AG\" (USD) ACC","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","RULE":"Adaptive Core ETF","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC","LU0210536198.USD":"JPM US GROWTH \"A\" ACC","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","LU1564329032.USD":"BGF DYNAMIC HIGH INCOME \"A2\" (USD) ACC","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","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","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) 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","IE00B4YYXB79.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) ACC","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","OGIG":"ALPS O'Shares Global Internet Giants ETF","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","JGRO":"Jpmorgan Active Growth ETF","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","BK4507":"流媒体概念","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","TTEQ":"T. Rowe Price Technology ETF","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","XDAT":"Franklin Exponential Data ETF","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","WISE":"THEMES GENERATIVE ARTIFICIAL INTELLIGENCE ETF","SMH":"半导体指数ETF-HOLDRs","LU0149725797.USD":"汇丰美国股市经济规模基金","PSI":"INVESCO SEMICONDUCTORS ETF","WLDR":"Affinity World Leaders Equity ETF","TTXU":"Direxion Daily Technology Top 5 Bull 2X ETF","FDTX":"Fidelity Disruptive Technology ETF","SG9999015978.USD":"利安颠覆性创新基金A","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD) INC","LU0162691827.USD":"BGF US BASIC VALUE \"A4\" INC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","IXN":"iShares Trust S&P Global Informa","LU0784385840.USD":"Blackrock Global Multi-Asset Income A2 USD","SMHX":"VanEck Fabless Semiconductor ETF","LU2063271972.USD":"富兰克林创新领域基金","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","TRFK":"PACER DATA AND DIGITAL REVOLUTION ETF","LEGR":"First Trust Indxx Innovative Transaction & Process ETF","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","EMSF":"Matthews Emerging Markets Sustainable Future Active ETF","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","LU1791710582.SGD":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","LU0056508442.USD":"贝莱德世界科技基金A2","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","XNTK":"SPDR NYSE Technology ETF","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1261432733.SGD":"Fidelity World A-ACC-SGD","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. VL \"A\" (USD) ACC","LU2097829019.USD":"AZ EQUITY - BORLETTI GLOBAL LIFESTYLE \"AI\" (USD) ACC","LU2360107168.USD":"BGF NEXT GENERATION TECHNOLOGY \"A4\" (USD) INC","TRUC":"VanEck Communication Services TruSector ETF","LU1232071149.USD":"AZ FUND 1 GLOBAL GROWTH SELECTOR \"AAZ\" (USDHDG) ACC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU1564329628.SGD":"Blackrock Dynamic High Income A2 SGD-H","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","BK4512":"苹果概念","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","LU0726765562.USD":"JPM GLOBAL INCOME \"A\" (USD HEDGED) INC","LU1235294995.USD":"FIDELITY GLOBAL TECHNOLOGY \"A\" (USDHDG) ACC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","INT":"2倍做多INTC ETF-Corgi","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)","LU2347655073.USD":"JPM GLOBAL INCOME \"A\" (USDHDG) INC A","LU2381873111.SGD":"BGF SYSTEMATIC GLOBAL EQUITY HIGH INCOME \"A6\" (SGDHDG) INC","PTF":"Invesco Dorsey Wright Technology Momentum ETF","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","LU0070217475.USD":"JPM GLOBAL SELECT EQUITY \"A\" ACC","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","BK4592":"伊斯兰概念","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","INTW":"2倍做多INTC ETF-GraniteShares","SG9999001077.SGD":"United International Growth Fund SGD","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","CNAV":"Mohr Company Nav ETF","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152062461","content_text":"The launch of Meta's AI agent Muse has reignited bets that consumer-grade artificial intelligence is finally hitting a mainstream inflection point, but Wall Street is split on whether this marks a genuine return to the AI trade or just another fleeting spike.On September 21, the Nasdaq 100 jumped roughly 2.83% to reclaim the 30,000-point level, its highest close since June. Yet Goldman Sachs trading desk analyst Peter Callahan called it a \"quiet surge\" — trading activity scored just 3 out of 10, the S&P 500 equal-weight index rose a mere 18 basis points, and the gains were heavily concentrated in mega-cap tech names.\"This is one of the rare ~3% Nasdaq rallies I can recall that felt so subdued,\" Callahan noted.The explosion of Muse-style products has directly opened up new demand for CPU chips, with ARM surging over 15% on the day, Intel climbing more than 12%, and AMD rising nearly 10%.Meanwhile, credit markets are diverging from equities: investment-grade CDS spreads have widened to a five-month high, signaling skepticism about the rally's staying power. Next week's earnings report from Micron Technology is being viewed as the key validation point for whether the AI infrastructure trade can hold.Muse: From Chatbot to an Agent That Gets Things DoneThe trigger for all of this was Meta's consumer AI agent, Muse, which launched on September 8. Unlike traditional conversational AI, Muse can autonomously execute multi-step tasks — booking travel, managing calendars, and completing e-commerce purchases — running continuously in the background rather than waiting for user commands.Wells Fargo analyst Ken Gawrelski, citing SensorTower data in a client note, highlighted the following:Muse hit 264,000 daily downloads on September 19, marking the third straight day above 200,000.Daily active users peaked at 448,000 by day ten.For comparison, ChatGPT took nearly a year to reach 200,000 daily downloads and 49 days to hit 450,000 daily active users.Gawrelski raised his Meta price target from $640 to $796, maintaining an \"Overweight\" rating, and wrote: \"Muse marks the shift of consumer AI from chatbots to AI assistants, and whoever gets to market first has the advantage — because the more an AI assistant is used, the more valuable it becomes.\"Goldman Sachs trader Rich Privorotsky pointed out the strategic significance directly: \"Meta has essentially built a direct-to-consumer agent factory — shopping, calling, subscriptions, admin tasks, increasingly acting on your behalf. The end state is clear: everyone will have dozens of agents helping with groceries, bill payments, holidays, and school arrangements. Your productivity becomes you plus your team of agents. This is a massive efficiency release and a massive compute multiplier.\"Meta shares surged roughly 11% to 12% on the day, hitting their highest level since October 2025.Why CPUs, Not Just GPUs, Are the StoryThe structure of the chip rally reveals the market's bet on a shifting AI architecture. On September 21, ARM Holdings (ASX: ARM) jumped over 15%, Intel climbed more than 12%, and AMD rose nearly 10% — all three are core CPU players, not the traditional AI compute narrative's usual protagonist, Nvidia.According to market intelligence firm Vital Knowledge, early generative AI relied mainly on GPUs for isolated text and image generation tasks. AI agents, by contrast, need to run continuous background processes, logic loops, and local data orchestration, making agentic AI far more CPU-intensive than GPU-heavy workloads.In other words, the explosion of Muse-style products has directly created new demand for CPU silicon.AMD touched the $1 trillion market cap threshold for the first time on the day, surpassing JPMorgan and joining the ranks of Eli Lilly and Berkshire Hathaway. Goldman's Peter Callahan noted in a flash note: \"If AMD overtakes those two names going forward, the S&P 500's top ten companies will all be TMT firms, each with a market cap above $1 trillion.\"Additionally, reports indicate that OpenAI is accelerating development of a Muse-like consumer agent, with expectations of an industry arms race further lifting valuations across the CPU and cloud computing supply chain.A Quiet Surge with Sharp Internal DivergenceGoldman's TMT desk flash note captured the session's character in one line: \"The Nasdaq is back above 30,000, but this is one of the quietest ~3% rallies I can recall.\"The day's data tells the story:The S&P 500 equal-weight index rose just ~18 basis points, while the S&P 500 itself gained ~130 basis points — a spread that ranks among the top five single-day gaps in the past five-plus years.The SOX semiconductor index posted a cumulative gain of nearly 12% over five trading days, its strongest five-day run since early August 2025.Options activity hit a one-month high, with single-day call volume on AMD and Intel each exceeding 1 million contracts, near year-to-date peaks.Media reports noted large tech call buying at the open, triggering an unusual combination of \"spot up, volatility also up\" — a hallmark of options-driven moves rather than fundamentals-led gains.Goldman's desk also recorded roughly balanced buy/sell flows on the day: long-only funds (LO) were net buyers in communication services and information technology, while hedge funds (HF) added in communication services, financials, and consumer discretionary — but overall activity remained muted.Investors Are Skeptical: Fundamentals Are Solid, But the Move Feels Too FastGoldman's TMT flash note directly captured investors' reactions: \"Clients acknowledge the fundamentals are solid, but sentiment indicators are more cautious — we received a flood of 'this is moving too fast' and 'where's the price target?' inquiries.\"Callahan noted this echoes recent conversations at Goldman's technology conferences, where investors show clear tension over whether to fully \"re-enter the AI infrastructure trade.\" The reason: at the macro level, oil prices and rates pressure have recently overshadowed healthy fundamental signals like supply-demand commentary, return-on-capital data, and product updates. \"It seems to be forming a pattern of 'buyers waiting at higher levels,'\" he said.In short: fundamentals are fine, but macro noise is keeping investors from chasing highs.The Credit Market Sends a Different SignalThe equity market's optimism is not backed by credit markets. Bloomberg macro strategist Frank Monkam analyzed that despite the S&P 500 near record highs, investment-grade credit quality — as measured by 5-year investment-grade CDS — has deteriorated to a five-month low, and this divergence has widened steadily since the Fed's rate hike this month.Monkam wrote: \"Equities continue to price in resilient growth and earnings, plus a more optimistic narrative. Credit is doing the math, demanding higher risk compensation for corporates. This apparent mispricing begs the question: which market has the wrong read on risk premia? I lean toward the signal from higher up the capital structure ultimately having the final say.\"Two markets, looking at the same corporate balance sheets, are arriving at very different answers.Oil and Rates: Temporary Relief or a Real Turning Point?Another macro backdrop to this tech rally is the pullback in oil prices. Brent crude fell below $100 per barrel. Satellite data showed Saudi Arabian oil loadings at Persian Gulf ports jumped sharply over the weekend to their highest since June, indicating the kingdom has shifted export routes back through the Strait of Hormuz after Red Sea pipeline disruptions from drone attacks.The drop in oil helped push the 10-year Treasury yield back below 5%. Goldman's Rich Privorotsky characterized rates and rates volatility as \"the biggest macro risk right now,\" noting: \"The risk of rates and energy prices decoupling persists — oil has come down, but the effects of secondary inflation and global rate shocks are already baked in.\"The Next Catalyst: Micron's EarningsGoldman's TMT flash note closed by flagging the next focus for markets: \"Away from conferences and geopolitics, the next catalyst on my radar is next week's Micron Technology earnings.\"As a core supplier of AI memory chips, Micron Technology's report will directly test the real strength of AI infrastructure demand. Notably, within this round of chip gains, memory stocks have clearly lagged — SanDisk fell about 3% on the day, while Western Digital and Seagate were roughly flat — a sharp contrast to the CPU explosion.Whether Micron Technology can bridge this gap will be a key reference for the market in judging whether the \"return to AI trade\" is sustainable.","news_type":1,"symbols_score_info":{"AIFD":1,"AMDU":1,"DRMY":1,"AMDS":1,"AMDL":0.6,"FTEC":1,"TRUC":1,"CHPX":1,"AIQ":1,"FBY":0.6,"IXN":1,"AMDD":0.6,"LINT":0.6,"METG":0.6,"OGIG":1,"IETC":1,"FBYY":0.6,"FCOM":1,"INYY":0.6,"FBX":0.6,"FAI":1,"USXF":1,"AIS":1,"GXPC":1,"SOXQ":1,"AMDY":0.6,"SMHX":1,"XLK":1,"AMDG":0.6,"RULE":1,"VOX":1,"TTXU":1,"METV":1,"CNAV":1,"XLC":1,"WISE":1,"EMSF":1,"JGRO":1,"SOCL":1,"METQ":0.6,"FTXL":1,"META":2,"AMUU":0.6,"TEK":1,"DAMD":0.6,"SPRX":1,"VGT":1,"AMDW":0.6,"RSPC":1,"EGGY":1,"AMDC":0.6,"AMYY":0.6,"NULC":1,"PSI":1,"HBMX":1,"CGGO":1,"BAI":1,"INTW":0.6,"METU":0.6,"FBL":0.6,"ARTY":1,"TRFK":1,"FDTX":1,"CHAT":1,"SHOC":1,"XDAT":1,"SOXY":1,"WLDR":1,"EFIV":1,"GAMR":1,"QQQA":1,"AIPI":1,"TTEQ":1,"SMH":1,"WUGI":1,"PTF":1,"XNTK":1,"INTC":2,"CHPS":1,"SOXX":1,"FXL":1,"AMD":2,"METD":0.6,"INT":0.6,"BOBP":1,"ILDR":1,"LEGR":1,"LTL":1,"METW":0.6,"DISK":1}},"isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
