Christopher Wood of Jefferies warns that the AI trade is showing signs of fatigue as investors seek cheaper value opportunities. With India and China positioned to benefit from a rotation away from crowded AI winners, Wood believes picks-and-shovels companies will continue to outperform amid massive AI capex and uncertain monetisation.
Christopher Wood of Jefferies warns that the AI trade is showing signs of fatigue as investors seek cheaper value opportunities. With India and China positioned to benefit from a rotation away from crowded AI winners, Wood believes picks-and-shovels companies will continue to outperform amid massive AI capex and uncertain monetisation.
<iframe src="https://hindustansphere.com/embed/cluster/613e22c2a1224c4a94d85018cbcd9b2c44bfba80" width="100%" height="320" style="border:0;max-width:680px" loading="lazy" title="Christopher Wood warns of AI fatigue. Why Jefferies is turning to India and China"></iframe>
Emerging markets bull Christopher Wood says the spectacular AI trade is showing clear signs of “fatigue”, and Jefferies is responding by tilting exposure toward cheaper, under‑owned markets such as India and China that stand to benefit from mean reversion away from crowded AI winners. He believes the “picks and shovels” of the AI capex boom will keep outperforming even as investors rotate out of hyperscalers and into value names across Asia.In his newsletter 'GREED & fear', Wood writes that…
