According to CoinMeta, economists at Bank of Malaya stated that although the growth rate of Singapore's electronics industry has slowed to a 11-month low, the industry will still benefit from the global construction of artificial intelligence infrastructure. In July, Singapore's electronics industry output increased by 11.2% year-on-year, lower than the 21.1% in June, partly due to a higher base in the same period last year. Bank of Malaya believes that despite the slowdown in growth rates of electronics industry output, the AI craze is unlikely to come to an end anytime soon. At the same time, as global chip manufacturing capacity expands, demand for semiconductor equipment in Singapore remains strong. Bank of Malaya noted that Singapore holds about 20% of the global semiconductor equipment production market share.