AI’s Market Transformation: From Tech Hype to Economic Catalyst
Artificial intelligence has graduated from Silicon Valley buzzword to macroeconomic force. Recent developments reveal a pivot from speculative valuations to tangible impacts on capital allocation, productivity metrics, and policy debates. This maturation phase—marked by efficiency gains and institutional adoption—may ultimately prove more consequential than the initial investment frenzy.
China’s semiconductor listings exemplify the new dynamic. MetaX Integrated Circuits and Moore Threads saw first-day pops exceeding 300%, reflecting domestic hunger for strategic tech exposure. Yet these gains highlight structural barriers: foreign investors remain locked out of mainland IPOs due to regulatory hurdles, with Stock Connect access delayed until after the most explosive moves.
