Category Market Outlook

The easy part of the AI trade is over. Anybody can write a check for $200 billion. This week the three biggest names in the trade have to stand in front of the class and show what the money actually…

So far BTC has held. Everything else didn’t. Now if your first reaction to that sentence is relief, we need to talk. Because that is the exact false comfort this market is serving right now.

For the past two years the only question the market asked about AI spending was how big the number could get. Like a dog with a frisbee, the answer was always: MORE. This week bullish exuberance and greed finally gave…