Goldman Sachs strategist Guillaume Soria noted in a client report on September 15 that the 3-month momentum index rose by 5% that day, while the 12-month momentum index fell by 6.7%, marking the largest single-day performance gap in five years. Concurrently, the Goldman Sachs index tracking AI-related stocks (GSPUARTI) has cumulatively fallen by nearly 45% from its peak, the largest decline since ChatGPT's inception. Goldman Sachs recommends hedging risks by purchasing put options on its mid-term winners basket or AI beneficiary stocks basket, and pointed out that short-term momentum funds are shifting from semiconductors to software, with the software relative to semiconductor performance index recording its second-largest single-day gain in history that day.