AI's 2008 Moment: Jefferies Sees "Massive Capital Destruction" As Two Cash-Burning Labs Owe Half Of A $2.3 Trillion Backlog

The AI bubble debate is getting crowded.

Earlier this week we laid out how Mike Novogratz, Ray Dalio and Nassim Taleb disagreed about the endgame (see "Not Spectacular Enough": Novogratz Says AI Is The Biggest Bubble Of Our Lifetime... And You Should Buy It). Now the strategist who has called more bubbles than most of them has weighed in. In his just-published Asia Maxima quarterly, "Reverberating tremors" (available to pro subs), Jefferies global head of equity strategy and GREED & fear author Chris Wood escalated his long-standing AI warning.”:

From "Cheap" To "Peer"