On May 21, reports indicated that since the start of the year, certain European technology stocks have witnessed a significant surge, driven by investors' large-scale acquisition of shares in companies associated with AI infrastructure. Notably, the stock price of Aixtron, a chip manufacturing equipment company, has skyrocketed by 189% year-to-date. Similarly, Technoprobe has seen a 129% increase, while STMicroelectronics has risen by 133%. Nokia, the former mobile phone giant, has also experienced a 108% surge in its share price after transitioning into the AI sector. Fabio Bassi, the Head of Cross-Asset Strategy at JPMorgan, highlighted that with the escalating demand for computing power, investors are now turning their attention to companies engaged in data centers, network equipment, chip equipment development, as well as those involved in power supply, cooling systems, and software tools. He emphasized that in Europe, owing to the scarcity of sizable, liquid pure AI concept stocks, capital has been channeled into a select few companies perceived as AI proxy targets. These companies not only have genuine AI demand but also crowded investor positions. Data reveals that the EURO STOXX All-Share Semiconductor Index has surged by 84% year-to-date, in stark contrast to the modest 3% increase in the STOXX Europe 600 Index over the same period.