AI Trade Under Threat as Token Spending, Chip Leasing Momentum Fades — Market Talk

The AI trade has stalled as spending on tokens and chips falters, Fidelity's head of macro, Jurrien Timmer, writes on X. Investing in AI companies "has been dead money for more than three months," Timmer writes. Token expenditures--or the spending on AI computation--as well as the leasing of semico…