In the United States, the stock market continues to seek its peak led by the excellent performance of a few technology stocks. Huang Siyuan, Senior Investment Manager of the International Diversified Assets Department at Pictet Asset Management in Switzerland, pointed out that investors should pay attention to the trend of decreasing inflation in the United States and continue to be bullish on long-term growth stories such as artificial intelligence (AI) and the semiconductor industry. The opportunity cost of not investing at the moment is very high. The timing of the Fed's interest rate cuts this year is under close scrutiny, as economic and inflation data are heating up and weakening expectations for rate cuts. However, Huang Siyuan pointed out that instead of focusing on how many times interest rates will be cut, it is more important to pay attention to the trend of declining inflation. Currently, inflation is slowing down, leading the Fed to return to normal interest rate operations, as opposed to before where it had to create a recession to stop inflation. He also pointed out that recent commodity prices and money supply support the view of declining inflation, using the example of M2 in the United States, despite a significant increase in money supply after the pandemic, it has recently been experiencing negative growth. Huang Siyuan emphasized that artificial intelligence, particularly the market trend driven by generative AI, is the most reliable investment theme in the current US market. He noted that at present, hardware-related AI stocks are more favored than software-related ones.