Credit and equity markets are still priced for something close to perfection from the current capex explosion
THE artificial intelligence boom is wobbling, even if the bosses of big US banks do not see it.
Chipmakers’ stock prices have dropped in recent days, and there were signs of a hiccup in the third-quarter earnings of Goldman Sachs, JPMorgan Chase and others on Tuesday (Oct 13).
Top executives acknowledged a slowing in trading activity and investment banking fees after an extremely active second quarter, but still said that demand for capital to fund AI infrastructure was insatiable.