The cell division of the AI industry chain, a life process from trunk to branches and then to fruit

The current AI market trend is a very typical three-stage process:Stage One: Computing power and hardware win first. This includes Nvidia, HBM, memory, storage, optical modules, and the server supply chain.Stage Two: Diffusion to power and physical infrastructure. This includes data centers, cooling, power supplies, transformers, power grids, nuclear power, natural gas, land, and grid connection resources.Stage Three: Applications begin to differentiate and emerge as winners. It's not &#34;all AI applications,&#34; but those companies that can convert AI into revenue, profit, regulatory approval, clinical success, or network effects.Therefore, capital will rotate through these areas, but not mindlessly to all application stocks. More precisely: the infrastructure chain earns money from certainty and scarcity; the application chain will earn money from explosive revaluation after validation in the future. Right now, the market is still rewarding &#34;who can collect money today,&#34; and the next stage will reward &#34;who can turn AI into long-term monopoly cash flow.&#34;

Watching the AI supply chain soar to the sky, saying I'm not envious is definitely a lie. I started scaling up my layout in AI applications a year ago, from Tesla, to Jingtai, to RXRX, but the capital market seems to think applications are all unreliable, with cash flow not picking up. However, the massive price increase across the entire industry chain, driven by the supply-demand imbalance due to LLM demand, has sent these stocks soaring. But in reality, the capacity expansion of these supply chain companies hasn't been that significant; more of the gains come from price increases. Similar to a 10% oil shortage possibly causing a 150% price increase, not just 10%.  Bitter, astringent, and now here comes another one........intel $Intel(INTC.US) But I can only tell myself to keep enduring.$XTALPI(02228.HK)$Tesla(TSLA.US)$Recursion Pharmaceuticals(RXRX.US)