- A tech-driven selloff was a “wake-up call” for piling into the AI trade — Wells Fargo says the recent “sugar rush” is likely over and any rally will slow.
- Big banks (JPMorgan, BofA) are now tactically cautious after tech/AI names dragged markets down — the Nasdaq 100 slid about 2% in the latest drop.
- Key risks to watch: whether heavy, debt-fueled AI spending will deliver returns and rapidly rising capacity (projected to double yearly) that could cool demand and capex.
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