This AI cycle will indeed be much more complex than previous ones. The problem is that the market is flooded with a large number of AI projects and applications developed through rapid development (some can be completed in just a few hours). To ordinary users, they are indeed all very new, but as things that everyone can produce gradually fill the market, scarcity will inevitably disappear. Once AI is no longer a rare asset, the market will need to be re-priced. In this cycle, those who can maintain genuine technological barriers and differentiation will have the say. Otherwise, the influx of numerous mediocre applications will inevitably impact the valuation system of the entire track.