美国银行的一项民调显示，追逐人工智能驱动的股市上涨的全球投资者，对科技股的风险敞口达到了自六年前新冠疫情反弹以来的最高水平。
Global investors chasing the AI-powered equity rally are the most exposed to technology stocks since the rebound from the Covid pandemic six years ago, according to a poll by Bank of America Corp.
调查显示，增持科技行业仓位的基金经理比例从上月的30%上升至37%，创下2020年8月以来的最高纪录。约45%的受访者认同2027年将出现人工智能泡沫，42%的人表示不会。
The proportion of fund managers who are overweight the tech sector has risen to 37% from 30% last month, the highest since August 2020, the survey shows. About 45% of respondents agreed that there will be an AI bubble in 2027, with 42% saying no.
人工智能一直是股市中最热门的交易，在长达四年的牛市中推动标普500指数上涨了近120%。但由于投资者质疑回报是否足以证明该技术的巨额支出是合理的，围绕人工智能的一些热情正在消退。
Artificial intelligence has been the hottest trade in equities, driving gains of almost 120% in the S&P 500 Index during a four-year bull run. But some of the enthusiasm around AI is fading as investors question whether returns will justify the heavy spending on the technology.
参与美银10月调查的受访者表示，全球半导体股票是市场上拥挤度最高的交易。
Respondents in the October BofA survey said global semiconductor stocks were the market’s most crowded trade.
周二，韩国存储芯片巨头三星电子公司和SK海力士公司的急剧下跌，将亚洲股票基准指数拉低至8月以来的最低水平。追踪美国科技股为主的纳斯达克100指数的合约下跌了0.6%。
On Tuesday, sharp declines in South Korean memory giants Samsung Electronics Co. and SK Hynix Inc. pulled an Asian stocks benchmark to its lowest level since August. Contracts tracking the US tech-heavy Nasdaq 100 index slid 0.6%.
与此同时，投资者对债券的悲观情绪降至2025年5月以来的最低点。约37%的参与者表示，达到6%的10年期美国国债收益率将促使他们将资金从股票转移到债券，约19%的人表示他们已经在调整配置。周二上午，10年期国债收益率为5.19%。
Meanwhile, investors turned the least pessimistic on bonds since May 2025. About 37% of participants said the 10-year Treasury yield at 6% would prompt them to move to bonds from stocks, while about 19% said they’re already shifting allocation. The 10-year yield was at 5.19% on Tuesday morning.
该调查于10月2日至10月8日进行，共有161名管理着4530亿美元资产的参与者作出了回应。
The survey was conducted from Oct. 2 to Oct. 8, with 161 participants managing $453 billion in assets responding to questions.