[Many AI giants in the United States have increased concerns about security risks, and computing power metal valuation premiums have fallen] September 16th. Recently, many AI giants in the United States have increased concerns about security risks, calling for a slowdown in the pace of AI iterations. Coupled with the continued rise in U.S. bond yields, chip stocks such as Nvidia have experienced violent fluctuations, dragging down the prices of computing power metals such as copper and tin. The international market has begun to be wary of the risks of subsequent policy shifts in the United States. Since September, the structure of the copper futures market on the London Metal Exchange (LME) has rapidly reversed, from spot short squeeze to futures premium. The Bank for International Settlements clearly mentioned in its quarterly report in September this year that funds are reducing their concentrated bets on a few leading AI stocks. However, the industrial side has not substantially contracted in line with financial market sentiment. Industry insiders judge that the overall nonferrous metal market will remain strong in the next two quarters.