S&P 500 breaks 7600 for the first time, total market cap $69 trillion
This year's gain is 11%, with nearly 80% coming from 10 AI chip companies

🤔 This isn’t a broad rally; it’s concentrated betting

Jensen Huang directly named Marvell at Computex $MRVL
Data center connectivity is key in the AI era, hinting it could be the next trillion-dollar company. $MRVL surged 26-32%, a single statement catalyzed a quarter's gain

Jensen was right again; both the tech and finance circles are buzzing, and those in the know understand, as he has previously named stocks that recorded gains

But I have a question worth pondering

Goldman Sachs' CEO says there’s enough capital in the market to absorb trillion-dollar IPOs from OpenAI, Anthropic, and others. This sounds impressive, but what does it imply? Is the market healthy enough, or is liquidity so abundant that we can inflate the bubble again?

With 80% of the gains concentrated in 10 companies, this structure itself is risky; if 1-2 of them miss earnings, the whole index will feel it

I can’t chase today’s gains; I’ll wait for a pullback. The main line of optical communication and AI computational connectivity is real, and Huang's endorsement isn’t just hype, but after a 30% jump in one day, the current position isn’t an entry point

Whether the S&P can hold 7600 depends on whether the earnings reports from AI giants in the coming weeks can support valuation expectations

Standing here, it’s not just about greed being right or fear being wrong. It’s about clearly seeing who’s rising, why they’re rising, and where the rise starts to become unreasonable

DYOR not investment advice