I'm a big believer but there will be an ebb and flow and this might be the flow phase or it might be a bubble popping (at least in a few names).
Before that, there were other trickles of skepticism.
In the last 24 hours there have been incredible model releases in Gemini 2.5, a new DeepSeek foundational model that beats everything and OpenAI releasing insane image generation capabilities. Despite that, the market is unimpressed. Meanwhile, Goldman Sachs's Asian team yesterday revised down its AI training server outlook.
We revise down our Rack-level AI Server volume forecast due to the combined reasons of product transitioning and uncertainties of demand and supply. We now expect 19k/ 57k of rack-level AI servers (in 144-GPU equivalent) for 2025/ 26E, down from previously 31k/ 66k in 2025/ 26E.The 2000 Goldman Sachs note symbolized the shift from "growth at all costs" to "show me the money" in tech investing. Will we be seeing the same thing in AI? Is that time now?
h/t @SquirrelMacro
This article was written by Adam Button at www.forexlive.com. Read More Details
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