The CITIC Securities research report highlights that, amidst diminished macroeconomic risks, the trajectory of the AI industry has emerged as a crucial determinant influencing the performance of US tech stocks in the latter half of the year. Despite recent notable fluctuations in the US stock market, investor sentiment towards AI is evolving towards a more pragmatic stance, with a heightened emphasis on achieving short-term return on investment (ROI). As we progress through the second half of the year, the monetization strategies within the AI sector, the longevity of capital investments by tech behemoths in AI, and the equitable distribution of value across the AI supply chain will remain at the forefront of market scrutiny. It is projected that the market will continue to exhibit high levels of volatility, prompting a recommendation to concentrate on Hyperscaler enterprises, application software, and internet companies witnessing a resurgence in revenue growth. Simultaneously, a cautious approach is warranted concerning the information security and foundational software sectors, while trading in hardware semiconductors is likely to further consolidate around segments offering greater short-term certainty.