The AI Supercycle, Asia, and Why This Time is Different

The recent tech sell-off was driven by the rapid AI supercycle, not a bubble. Supply chain bottlenecks and multi-year demand differentiate this cycle from past booms. This creates real earnings growth, not just valuation expansion, for companies across the tech ecosystem.

Opportunities lie in optical networking and cybersecurity, driven by accelerating AI compute demand and increased vulnerabilities. China's mass-market AI strategy contrasts with the US's frontier approach, creating a dynamic investment landscape. The "Golden Triangle" of Taiwan, South Korea, and Japan remains critical for semiconductor manufacturing and materials.

Agentic AI, smart glasses, and robotics are progressing, though commercial viability for robots is still developing. We must monitor the responsible development and adoption of these technologies, especially regarding cybersecurity risks and societal impact.