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Finanshuse: Stor svaghed i amerikansk AI-univers

Morten W. Langer

tirsdag 16. december 2025 kl. 9:24

Agentisk AI

DB’s chart of the day tracks 23 AI-related stocks, comparing year-to-date performance up to 29 October with returns over the roughly six weeks since. Before 29 October, just one stock was down on the year and the group had posted an average unweighted gain of +70%; since then, the picture has shifted sharply, with 20 of the 23 now trading lower.

DB
Just in time
Hedge fund positioning in North American semis got back to peak levels just in time for the biggest SOX puke in a very long time. Pain is huge. More on the “problematic” AI trade here.
JPM
Japan rates and the AI connection
We’ve written extensively about the implications of the rise in Japan’s long end. This isn’t a local story, it carries global spillover risk. Notably, NVDA topped almost perfectly as the Japanese 10-year kicked off its latest explosive move. More here.
LSEG Workspace
Will big brother follow?
Small tech going to lead big tech even lower?
LSEG Workspace

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