According to CoinMeta, Bank of America Merrill Lynch ( Bank of America ) pointed out that the assumption that the "Big Seven" companies' massive investments in artificial intelligence over the years would translate into sustainable growth, strong cash flows, and higher valuations is now facing a significant test. Bank of America strategist Michael Hartnett ( Michael Hartnett ) warned that market confidence in AI investments could be affected, especially as credit markets are becoming more cautious about such expenditures. Although the stock market remains relatively strong, signals from the credit markets are becoming more cautious. Hartnett noted that if the "Big Seven" can maintain their pricing power in the face of the threat of low-cost computers from China, investors will still believe in the long-term story of AI capital expenditure.