BlockBeats News, July 14th. Yajun Wang, Head of Equity Capital Markets, Asia Ex-Japan at Goldman Sachs, stated that the Hong Kong market has entered the AI era. However, the main stock indices have not fully reflected the influence of AI companies, which has led to a contrast between this year's hot IPO financing and the relatively subdued performance of the secondary market indices.

Wang predicts that by 2026, both the total equity financing amount and IPO financing scale in Hong Kong are expected to reach new highs. This year, AI has become the most active investment theme in the Hong Kong stock market. The most actively traded, best-performing, and largest funded stocks are all AI-related. However, there is a lag in index component adjustments.

Regarding the valuation of the AI industry, Wang believes that the continuous growth in AI demand will drive further expansion of capital expenditures on infrastructure such as computing power, chips, and storage. Currently, there is still room for industry capital expenditure growth. As the Chinese AI industry chain continues to improve, it is expected that more AI companies will list in Hong Kong or on the STAR Market in the second half of the year.