[V-shaped restoration of the net value of some funds, fundamentals determine the direction of the AI ​​market] September 11th, after a deep retracement of product net values ​​in July, some funds have taken the lead in entering the repair channel since August, and the product net value curve shows an obvious V-shaped trend. Wind data shows that as of September 9, more than 20 funds have withdrawn more than 30% in July, and the net value of their products has rebounded by more than 30% since August. It is worth noting that these funds generally have heavy positions in the optical communications industry chain. Many industry insiders believe that there are many market sentiment factors behind the extreme rise and fall in the early stage, and the range of market changes far exceeds short-term changes in fundamentals. With the market correction, the pressure on transaction structures has eased. Investors can continue to pay attention to the main line of AI while remaining cautious, and focus on exploring structural opportunities within AI. (China Securities Journal)