After top executives spooked investors with AI slowdown calls over safety concerns earlier this month, Jefferies’ Global Head of Equity Strategy Christopher Wood said the latest worries do not imply that AI is not here to stay, but it does mean that the AI story will be due for a big reset at some point in the not-so-distant future.
In his latest ‘Greed and fear’ report, Wood doubted whether the four tech hyperscalers, Meta Platforms, Alphabet (Google), Amazon and Microsoft, really can spend $990 billion on capex in 2027, which is the current consensus estimate.
