There are countless claims about the AI market bubble, but such general assertions are not very meaningful. What is truly worth tracking? It should be the signals that indicate the market top. Is the enthusiasm for funding starting to cool down? Are the growth curves of leading projects showing signs of a turn? Are institutional holdings quietly decreasing? How is the divergence between trading volume and price increase? These details are much more reliable than simply saying "there is a bubble." Market cycles always repeat; the key is to catch turning points rather than just shouting slogans.