In an era of uncertainty, safeguard certainty for families
This year's report focuses on three long-term issues:
We propose a clear judgment:
Artificial intelligence has entered the infrastructure construction phase.
AI infrastructure is not thematic investment, but underlying assets.


The true value lies not in a single prediction, but in the consistency of continuous judgment.

As the location of Noah's global headquarters, Singapore, at the intersection of global capital, policies, and geopolitical structures, provides a relatively neutral and clear observation perspective.