According to CICC's analysis, the AI sector currently presents a relatively low risk of overcrowding, with sustained long-term investment prospects. However, in the short term, value-oriented strategies may hold a competitive edge. Since late September, the AI sector has seen a decline in its overcrowding level, which now stands at a comparatively low point. This indicates that the sector retains investment value and harbors significant potential for long-term growth. Nonetheless, the short-term market dynamics favor a rotation towards value-centric approaches. As institutional investors' risk appetite wanes towards the year-end, they are likely to lean more towards defensive investment strategies.
