A volatile week for AI stocks — driven by the Anthropic S-1 filing and mixed hyperscaler earnings from Oracle, Microsoft and others — has Wall Street reassessing the trade. On Bloomberg's Odd Lots, Barclays' global head of equities tactical strategies, Alexander 'Alty' Altmann, breaks down how professionals are processing the action.
Altmann discusses whether the S&P 500 is undergoing a "KOSPI-fication" — concentrating gains in a few mega-cap names — and whether historical precedents exist for the massive capex pouring into AI infrastructure. He also tackles the debate over whether AI-exposed equities are truly immune to interest rates, a view that has underpinned much of the rally.
With the economy's traditional laws appearing to bend around AI, Altmann offers a tactical lens on positioning, sentiment and what signals strategists are watching next.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing