[Federal Reserve Meeting Minutes Warn of AI Stock Risks and Mention Treasury Volatility Risks] Jin10 Data, August 20 – The Federal Reserve meeting minutes highlighted vulnerabilities related to financing the rapid expansion of artificial intelligence (AI)-related infrastructure during discussions on financial stability. Some participants emphasized that the high stock valuations of AI-related companies reflect the market's optimistic assessment of the industry's long-term profitability prospects. They noted that if the market significantly revises down its evaluation of these companies' earnings outlook, it could trigger widespread repricing of assets, tighten financial conditions, and exert pressure on financial institutions directly or indirectly exposed to the sector. Additionally, two participants discussed the potential adverse impact of increased price volatility in the U.S. Treasury market on the financial system and ways to reduce the likelihood of such events.