Serenity Says AI Portfolio Drawdown Reached 49.4% Amid Market Slump

Serenity said on X that his portfolio's maximum drawdown this month reached 49.4% after the recent market decline, while he still maintains a long-term view on the AI sector. According to Odaily, he said his holdings are concentrated in key parts of the AI chain, including upstream semiconductors, memory chips, photonics, humanoid robotics, and companies tied to AI infrastructure.

Serenity said these areas generally have higher beta characteristics. He said he previously used leverage but has reduced it after the latest market decline.

Responding to doubts about AI-related assets, Serenity said many investors have recently argued that AI is a bubble, that memory chips and the South Korean KOSPI market are bubbles, that photonics is a bubble, and that humanoid robots will not succeed. He also said some retail traders and trading bots are calling for a complete exit from the market and saying it will not recover.

Serenity said he still believes these themes are supported by structural revenue growth and technological change. He added that he has experienced similar drawdowns when global tariff risks hit markets in the past, after which markets eventually rebounded.

He said his investment horizon is long and that he can tolerate higher volatility. He added that short-term price moves will not change his long-term view. Serenity said he shared the drawdown data to remain transparent and show the real risks behind high-volatility growth investing.

He also said that if his forecast is for a revenue inflection in the second half of 2027 and the current year is 2026, a decline over just a few weeks or months does not prove the investment thesis has failed.