The AI pendulum is swinging

AI pendulum

Some signs of the AI sentiment “pendulum” subtly swinging from AI-mania to something less than that as of lately.

1. Only a couple names in the SOX have outperformed the S&P over the last month.
2. NVDA now down on 6 of 7 sessions.
3. There are signs of fading call volume / 'options' activity in AI names. (GS trading desk)