Nicolai Tangen, CEO of the Norwegian Sovereign Wealth Fund, stated that the arrival of the AI era is partially offsetting the inflationary impact of the energy price surge triggered by the conflict in the Middle East, helping markets absorb the shocks. In an interview on Tuesday, Tangen said: "This is striking because given the current situation in the Middle East, you would expect this to translate into higher energy prices, higher fuel prices, and higher fertilizer prices." He noted: "To some extent, this has already begun to impact Asia. We expect it will transmit to Europe and the US through price increases. This is typically negative for markets. But the market is actually taking it in stride." Tangen expressed surprise that financial markets have not shown major dislocations. "Inflation is usually a factor that hits markets. This is something we must watch closely. On the other hand, we have AI, which we believe has a deflationary effect. I think this is exactly what the market is currently digesting." (Jin Shi)