# Market Valuation

Silicon Over Spirits: China’s New Stock Market King Signals a Shifting AI Frontier

Yuanjie Semiconductor has overtaken Kweichow Moutai as China's most expensive stock, driven by the surge in demand for high-speed optical chips used in AI data centers. Despite its strategic importance in breaking foreign monopolies, the company faces extreme valuation risks and the historical 'Moutai Curse' that often follows such rapid market ascents.