Just after comforting a friend disappointed with the A-shares, I turned around to see - something happened on the US stock side as well.

Recently, the US stock market was already in a correction, and then a big thunder broke out:

Oracle's negotiations for a multi-billion dollar financing to build a data center for OpenAI (with investor Blue Owl) have collapsed.

As a result, Oracle's stock price continues to plummet, currently close to being halved from its peak.

Some even begin to worry: with such a large order from OpenAI, will they be able to afford the payment?

One wave hasn't settled, another wave has risen, and the market's concerns about AI have been reignited.

To be honest, looking at AI financial reports now doesn’t make much sense - they have already soared, and the bubble has long been there.

Moreover, currently, there are hardly any AI applications that can achieve stable profitability; the ones really making money are still companies like Nvidia that 'sell shovels'.

I also can't predict when AI will be profitable or whether there will be a major drop; those who can predict are mostly just guessing.

But we can think the other way: if the AI bubble really fades, which companies are relatively safe?

I think there are two categories:

First is Google—Warren Buffett has heavily invested, a natural safe haven.

Google is involved in the entire AI industry chain: Gemini large model, Android ecosystem, cloud services, advertising, Chrome, YouTube, maps, autonomous driving Waymo…

The most exciting part is that even self-developed TPU chips are gradually being opened up, building their own software and hardware ecosystem.

Secondly, there are companies in the 'AI + traditional industry' space.

They have their main business to fall back on; even if AI is temporarily unprofitable, they can rely on AI to improve efficiency, reduce costs, and optimize business.

So, it's best not to chase high in the AI sector now, and it's still early to bottom fish.

If there are further adjustments later, you can take a closer look at the above two categories; for others, just enjoy the show for now.

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Since the first flight of Zhuque 3 ignited commercial aerospace, discussions have never stopped. Later, when it failed to recover, some said it was bad news.

I don't like to discuss this kind of short-term good and bad news—it's purely guessing, and it makes no sense.

But I want to make a judgment with higher certainty: 2026 will definitely be the 'launching year' for reusable rockets.

Why? Because there are too many rockets queued up. According to publicly available information:

· The Long March 12甲 (Shanghai No.8 Institute) was originally scheduled for launch on the 17th, but may be postponed to January due to weather or technical adjustments—state-owned teams are more stable than commercial rockets;

· The Long March 12乙 (commercial rocket company) is expected to launch in the first half of next year;

· The Long March 10甲 and 乙 (Beijing No.1 Institute) are also planned for their maiden flight in early 2026—this is even more of a trump card in the state team;

· The Zhuque 3 has two more already produced, waiting to fly in the first half of next year.

So many rockets are lined up waiting to launch, some have even been erected.

Next year, the reusable technology is likely to succeed, and the market will definitely be reignited.

The specific target can focus on the aerospace ETF (159227).

This sector has confidence—it is not just the concept of 'reusable rockets', but the entire aerospace industry.

Look at the data: last year there were over 50 rocket launches nationwide, and this year it's almost reaching a hundred. Even without considering recovery, the launch growth rate of disposable rockets is also very strong.

With state support and high industry growth, the commercial aerospace track—it's far from just one wave of market.