AI High Turns Into Hangover? Capex Cools And Clicks Fall
The unwind has already begun
Barclays says the spending boom “may be behind us.” Deutsche Bank sees consumer outlays on ChatGPT fading. Social-media usage just logged its first decline ever, and even the Magnificent Seven’s growth rate just got cut in half. Yet the street’s talking heads — led by Cramer himself — call the trillion-dollar AI buildout “justified,” casualties and all. Translation: the easy money phase of the AI mania is ending, and the unwind has already begun.