**[Bitunix Analyst: AI Boom Persists but Market Divergence Intensifies, Foreign Capital Withdrawal and Speculative Trading Heat Up]** BlockBeats News, October 13—The global market's attitude toward AI has not turned bearish but is instead reassessing the financial risks behind growth expectations. BlackRock has downgraded its U.S. equities rating from overweight to neutral and shifted to overweighting short-term U.S. Treasury bonds, reflecting increased stockholding risks due to high interest rates and volatility in AI infrastructure investments. South Korea's Kospi index plunged more than 6.5% intraday, with Samsung Electronics and SK Hynix declining for the fifth consecutive trading day. Foreign investors have net sold over $6 billion in October. Even though semiconductor companies remain profitable, concentrated holdings, leveraged trading unwinding, and the gradual disappearance of buyback momentum could amplify price corrections. U.S. equities, on the other hand, show another extreme: the nominal daily trading volume of single-stock options is approximately $700 billion, with over half of the transactions concentrated in contracts expiring within two weeks. Bullish sentiment has also rebounded to its highest level since July. This indicates that capital has not fully exited risk assets, but shortened trading durations and concentrated positions make the market more sensitive to price fluctuations. When profit expectations are already high and prices rely on a few AI companies for support, any earnings miss or slowdown in investment returns could trigger more drastic position adjustments. The IMF has warned that global economic growth is increasingly concentrated in fewer economies, and the AI hardware supply chain and demand market are also highly centralized. This means that if tech investments cool down, the impact could ripple across multiple markets simultaneously. Kazakhstan's central bank plans to reduce the proportion of gold in its foreign exchange reserves from approximately 78% to 75%, citing the attractiveness of U.S. dollar assets due to high U.S. Treasury yields. This reflects institutions reassessing asset allocations. Looking ahead, the U.S. September CPI report will be a critical test for the market. If core inflation rises by 0.2% month-over-month, it may support the Federal Reserve in pausing rate hikes; if it rises to 0.3%, it could reignite tightening expectations. Overall CPI may still be pushed higher by energy prices. The market's real focus is no longer just on whether AI demand exists but on whether corporate profits can sustain current valuations and whether capital is willing to continue bearing concentrated risks amid high interest rates and inflation uncertainties.