Next year's equity markets are shaping up to be a thrilling tightrope walk. Investors are torn between two opposing forces: the magnetic pull of AI momentum that nobody wants to miss, and the nagging dread that valuations have spiraled into dangerous territory. Will the artificial intelligence narrative continue driving gains, or has the market already priced in too much hype? That tension between greed and caution will likely keep volatility simmering throughout the year ahead.