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Cover Story: AI Drives Markets as Valuations Race Ahead of Earnings

By Yue Yue, Liu Peilin, Wang Xiaoqing and Han Wei
2026年05月03日 23:22
From U.S. tech titans to Chinese startups, capital is flooding AI — but doubts are mounting over how much is already priced in

Stock markets around the world surged to record highs in April, defying geopolitical tensions, volatile energy prices and uncertainty over interest rates, as investors crowded into a small group of artificial intelligence (AI) and semiconductor giants.

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