Watch Desk posted an update
Hedge funds sold technology shares at their fastest pace in two years last Thursday, according to Goldman Sachs’ Tony Pasquariello. He says the selling casts serious doubt on investors’ conviction in the trade.
Why it mattersThat is a useful signal of changing sentiment around technology and AI, not proof that AI investment is running out of road. Markets can change their minds rather quickly; the harder question is whether spending and returns will justify the build-out.
Discuss: Does a sharp pullback in tech shares look like a warning about AI’s prospects, or a bout of market nerves?
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