Hyperliquid's open interest in U.S. stock-related contracts decreased by 4.7%.

Huo Xing Finance reports that, on October 26, according to TradingBeats monitoring, the notional open interest (OI) of HIP-3 contracts related to U.S. equities on Hyperliquid decreased by approximately $127 million over the past 10 days, falling from $2.711 billion to $2.584 billion, a decline of about 4.70%. After excluding the reduction in OI due to price declines, overall position exposure remained largely unchanged. However, capital has shifted between sectors and individual stocks. TradingBeats scanned 10 HIP-3 deployers and 365 addresses that previously held positions exceeding $1 million, finding that some large holders are reducing existing risk exposure and reallocating assets, while other accounts continue to increase positions amid the decline. Is this a capital retreat or a subtle reallocation of risk? Concerns over AI investment returns are intensifying, prompting adjustments in technology stock risk exposure. This shift in positioning coincides with Wall Street reassessing AI investment returns. On October 16, Reuters reported that Deutsche Bank and RBC Capital Markets had each lowered their allocation recommendations for the technology sector. Deutsche Bank noted that the earlier rotation of capital into technology stocks had progressed too far, and the short-term risk-reward profile is no longer favorable. Earnings season has further heightened market focus on AI financing costs. On October 22, after Meta raised its full-year capital expenditure guidance floor, its five-year credit default swap (CDS) spread rose to a record high of 114.79 basis points. Bank of America strategists Sebastian Raedler and Thomas