Deutsche Bank's foreign exchange special report, published on September 3, states that the United States is mobilizing capital on an unprecedented scale, deeply intertwining the AI race with dollar hegemony. The dollar is becoming more like a high-risk stock than a traditional safe-haven anchor. The report notes that US companies are expected to invest approximately $800 billion in AI capital expenditures this year, and AI venture capital has raised over $400 billion. Concurrently, the Depository Trust & Clearing Corporation (DTCC) completed its first batch of asset tokenization for real transactions in July 2026 and plans to officially launch tokenization services in October 2026, with regulatory endorsement from the US Securities and Exchange Commission (SEC). The report suggests that as funding sources shift from official long-term capital to private short-term technology capital, the dollar's correlation with the stock market is rising, and its traditional risk-hedging properties are weakening. Should the AI business model be disproven or the US fall behind in the AI race, the dollar will face severe downward pressure.