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Today, we will talk about these THREE stories:
China’s AI stocks suddenly ripping higher
Investors quietly backing away from the AI trade
Why Anthropic says engineers aren’t the bottleneck anymore
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China’s AI Stocks Are Quietly Exploding
China’s AI trade just woke up fast.
Chinese AI firms like MiniMax and Zhipu reportedly jumped double-digits in a single session after bullish calls from major banks, with JPMorgan analysts pointing to improving fundamentals and lower relative valuations. While U.S. AI leaders still trade at 20–30× forward revenue, several Chinese AI names sit closer to 5–8×, according to regional market data. Capital that fled China in 2023–2024 is cautiously circling back.
What stands out is how little this has to do with breakthroughs. This is less about China “winning AI” and more about investors needing somewhere cheaper to stand while U.S. tech feels crowded, loud, and late-cycle. At trading desks early in the morning, screens glow green not from optimism, but from relief.
If money keeps flowing east while U.S. multiples compress, the real question is whether this becomes conviction—or just a temporary hedge made before lunch.
Investors Are Starting to Step Away From the AI Trade
The AI trade is losing its grip.
Across Australia, Europe, and parts of the U.S., tech-heavy funds have logged their largest weekly outflows in months, even as AI spending headlines stay loud. Asset managers report clients questioning timelines after three years of hype, rising rates, and AI infrastructure bills that run into the hundreds of billions of dollars. The narrative has shifted from “who benefits most” to “who pays first.”
What bothers me is how familiar this feels. When expectations run ahead of delivery, investors don’t panic, they quietly rotate. You can almost hear the soft click of dashboards refreshing as portfolios rebalance away from the same seven names everyone owns.
If belief fades before returns arrive, the real question is how much of today’s AI valuation survives once patience runs out.
Anthropic Says Engineers Aren’t the Real Bottleneck
The talent story just flipped.
A co-founder of Anthropic publicly argued that the biggest constraint in AI is no longer engineers, but organizational readiness, slow decision-making, risk aversion, and companies that buy models faster than they change workflows. This comes as AI wiped over $1 trillion from global software valuations during recent market repricing, exposing how thin real adoption still is.
What stands out is how unromantic this sounds. This isn’t about smarter models or faster chips. It’s about managers, procurement teams, and legal reviews piling up at 7 a.m. while the tools already exist and sit unused.
If AI is waiting on humans instead of code, the real question is whether companies can move fast enough to justify what they’ve already spent.
