Some funds are suspected of adjusting their positions, with computing power or AI applications taking over afterwards

Recently, the large technology sector has experienced wide fluctuations, and the performance of some actively managed equity funds heavily invested in related tracks has begun to show divergence. In particular, compared to the performance of technology stocks heavily held by funds at the end of the second quarter, the net value fluctuations of some track-type funds focused on computing power and other sub-sectors have significantly narrowed, while the net value fluctuations of some actively managed equity funds that do not heavily invest in technology tracks have recently expanded significantly. This divergence may indicate that fund managers have made substantial adjustments in their stock holdings. The significant adjustments in the technology sector, particularly in computing power, are believed by industry analysts to be mainly due to a certain degree of divergence among crowded large-cap technology growth stocks. This consolidation may be a cooling behavior to digest valuation bubbles after several months of market gains. From the current development of the artificial intelligence industry and investment portfolio construction strategies, some fund managers of actively managed equity products have begun to increase their focus on AI applications, including intelligent driving in automobiles, AI hardware, AI humanoid robots, and internet companies that actively embrace AI