05United States · Technology and business
The AI trade meets an old rule: capital still needs returns
Facts
A broad AI-linked selloff drove Intel down 29% and CoreWeave 9.7% as investors questioned spending, financing and the path to profits.
InterpretationThis is useful discipline, not proof that AI is a mirage. Management teams retain technological leverage, but power, chips, debt and customer concentration constrain execution; repricing can separate productive infrastructure from subsidy-dependent capacity.