On October 5, Hou Wey Fook, Chief Investment Officer of DBS Group, stated that based on NVIDIA's price-to-earnings (P/E) ratio and its projected 70% earnings growth for next year, AI-driven tech stocks are far from reaching bubble levels. Data shows that NVIDIA's forward 12-month P/E ratio is 17 times, significantly lower than Cisco Systems' valuation of approximately 100 times during the dot-com bubble. In an interview, Hou pointed out, 'If we consider NVIDIA as a representative company in the AI sector, with a P/E ratio of just over a dozen times, it is difficult to argue that a bubble exists.' He further noted that conditions remain favorable for investments in semiconductors and AI. However, Hou recommended adopting a 'barbell strategy' to balance portfolio volatility—allocating tech stocks for growth while pairing them with investment-grade fixed-income assets for stable returns, and using hedge funds and gold to diversify risk.