Capability Premium Shift

When a new production factor (such as AI chips or computing power) becomes scarce, companies possessing that factor enjoy excess returns from market revaluation until supply catches up. During this process, the valuation premium shifts from legacy sectors (traditional manufacturing) to emerging sectors (chips and computing infrastructure).

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Related principles

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  Industrial Fund Catalysis Effect
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  Market Timing
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  Infrastructure Demand Cascade
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  Customer Concentration Risk
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  Capability Tiering Monetization
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  Capital Flow as Market Structure Signal
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  Cyclical-to-Structural Transition
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  Winner-Take-Most Market Structure
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  Capability-to-Monetization Lag
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  Tool Complexity as Innovation Barrier
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  Service Sector Structural Upgrade as Dual-Circulation Engine