UBS noted in a recent report that U.S. corporate investment has experienced a prolonged period of weakness, with current capital expenditure starting from a significantly lower base compared to past cycles. Therefore, even if interest rates continue to rise, the additional suppressive impact on corporate investment may be limited. The report indicates that, excluding AI factors, corporate capital expenditure sentiment rebounded from historical lows to the 36th percentile by August 2026, suggesting that signs of investment stabilization are spreading from the technology sector to a broader range of corporate sectors. Furthermore, ample operating cash flow and long-accumulated maintenance and upgrade demands among companies also provide support for a recovery in capital expenditure.