PremiumIf The Spenders And The Receivers Are Both Getting Crushed, Who's Left To Pay The AI Bill?
The AI demand story had its best week in years. The stocks had one of their worst.
Google Cloud doubled. Azure grew 48%. AWS grew 39%, its fastest pace in five years, at its highest operating margin ever. And yet tech has shed $5 trillion in market cap over the past three weeks, the Nasdaq dropped 5% to end last week, the SOX plunged 7% on Friday alone, and on Monday the NDX took out Friday's lows and officially entered a correction.