The South Korean stock market went out of control today. During the session, the KOSPI index plummeted directly by more than 5%, and the KOSPI 200 futures also experienced a big dump of 5%, triggering the circuit breaker mechanism—how long has it been since we last saw such a scene?

The culprit? AI concept stocks have collectively fallen silent. Palantir evaporated nearly 8% in one day, and even chip giant NVIDIA couldn't hold up, dropping nearly 4 points. What's even more ruthless is that the legendary trader Michael Burry from "The Big Short" had already bet against it, throwing down 5 million Palantir and 1 million NVIDIA put options, with a nominal value exceeding 1 billion USD. This move clearly indicates a bet that the AI bubble is about to burst.

Ironically, the Korean stock market was originally the most outstanding in the world this year — the KOSPI surged over 60% within the year, Samsung Electronics rose by 85%, and SK Hynix was even more exaggerated, directly soaring by 217%. The demand for AI chips exploded, making Korean semiconductor stocks the biggest beneficiaries of this wave.

So what now? The bull market comes to a sudden stop. Retail investors have just withdrawn from the crypto market and surged into the stock market, only to encounter this kind of big dump. Market sentiment instantly switches from euphoria to panic mode, and the following trend is likely to make many reconsider the old question of whether "AI is a real demand or just a bubble."