OpenAI Sales Slump Hits Chip Surge: AI Forming “Island Top?”
“The hottest trade on Wall Street” faces new pressure from OpenAI, says @CharlesSchwab’s Nate Peterson, noting the possibility that semiconductors as a group are forming an “island top.” He believes any dent to the AI demand picture as the Mag 7 report earnings will lead to further downside. Nate has his eyes on revenue projections as the biggest tell to a potential shake-up in the AI trade.
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