Herald Van Der Linde and others from HSBC strategist believe that the momentum of Asia's artificial intelligence stocks is rapidly changing, "We are now more convinced that this industry needs close attention." They believe that one of the major risks faced by the industry is the possibility of EU regulation in the form of sanctions and regulations against data centers with high energy consumption. Another key factor is concentration risk; some funds may be restricted from buying more AI stocks, and Taiwan Semiconductor (TSM.N) currently accounts for 10% in some indices. "We still do not believe that Asia's artificial intelligence stocks have reached their peak, but we feel that it is approaching," strategists said.