【Moo News】 AI conviction is holding. Positioning is stretched 82% of fund managers now call long global semis the most crowded trade. Over $50B has flowed into semis in the past six weeks, dwarfing inflows into every other sector combined. Yet 61% still don't expect any hyperscaler to cut capex, and nearly half say AI stocks are not in a bubble. The debate has moved on. It's no longer whether AI spending continues. It's whether that spending converts into revenue, margins, and free cash flow fast enough to hold the valuation. Crowded positioning may mean that the margin for error on the next catalyst just got smaller. Learn more here https://t.co/iyqJZiGnSS Investing is risky. Content provided by Moomoo Technologies Inc.