Famous US stock KOLs: Four potential risks to be wary of in AI investment boom, low PE does not mean stable structure BlockBeats News: On June 3rd, US stock KOL Herman Jin (@ ShanghaoJin) published a detailed analysis of the four potential risks under the AI investment boom yesterday: the seemingly perfect micro company level can easily lead to overconfidence, excessive liquidity but limited central bank tools, uncontrolled semiconductor supply chain driving up capital expenditure costs, and the slowdown in revenue growth of models such as Anthropic/OpenAI may shake Hyperscalers' capital expenditure expectations. The author points out that the demand risk on the AI model side (Anthropic/OpenAI) is the most noteworthy and intuitive indicator. Although the current AI bull market appears to be low PE and low foam, in fact, model revenue must maintain rapid growth in order to rationalize the massive capital expenditure of Hyperscalers (Microsoft, Google, Amazon, Meta, etc.). Once the growth rate of model revenue slows down, "intelligence reduction" and "power bottleneck" lead to token quality/efficiency problems, the market's expectation of "sustainability of capital expenditure return" will be shaken. Once the expectation is shaken, it will directly break through the "lifeblood" of this bull market, causing the low PE foam to instantly turn from "firm positive feedback" to panic coverage. At the same time, all valuations supported by confidence that did not fall under previous negative news will undergo a one-time reset