Around 7 o'clock, the risk markets stopped falling and started to rebound. Besides the drop in oil prices, the news that NVIDIA increased its buyback by $150 billion is also very significant. Looking at the capital transmission chain, NVIDIA can practically be called the 'mini Federal Reserve' of the AI sector right now. Any company blessed by Jensen Huang seems to have its valuation take off—truly a Midas touch. If we place this move within my projected 2027 bubble timeline, this is a mid-to-late stage signal: liquidity providers within the ecosystem are starting to spend liquidity on themselves. Historically, this has always corresponded to the phase where pricing shifts from growth to maturity—think Microsoft in 2004, Cisco in 2001, and Apple in 2013. How long this bubble can last depends on three things: 1. Whether the actual buyback pace in the next earnings report really hits $40 billion per quarter 2. Whether stock-swap transactions continue 3. The capital expenditure guidance in cloud providers' earnings reports at the end of October @BITstocks_CN Buy U.S. stocks on BIT—10,000+ U.S. stocks and ETFs, real holdings, and enjoy dividend payouts.