[Ningquan Asset: The Current AI Bubble is a Super-Massive Bubble Comparable to the Dot-Com Bubble at the Turn of the Century] According to a report by Jinse Finance, on June 24, Ningquan Asset, founded by Yang Dong, stated in its '2026 Mid-Year Investment Report' released on the 23rd that this AI bubble is global in nature. Using the Buffett Indicator, which is the ratio of stock market capitalization to GDP, the ratio reached over 180 at the peak of the dot-com bubble, while it is currently over 240 in the United States, and around 200 in South Korea and Japan. Therefore, this bubble is essentially on par with the U.S. dot-com bubble at the turn of the century and has already become a super-massive bubble. The nationwide frenzy in the South Korean stock market is something we have experienced before.