AI Is No Longer A 'Buy Everything' Trade; Goldman Traders See 'Zero-Sum' Game Emerge As Huang Warns "China Will Win The Race"

Tuesday night’s price action felt pretty bad, by yesterday afternoon things felt pretty good, and by the close... it felt uneasy again.

Late in the day yesterday, OpenAI headlines sparked a selloff in NVDA and fade in the broader market as investors digested what AI infrastructure financing might look like if the government acts as a backstop or if private-credit funding becomes necessary.