AI Derating Deepens

30%its chance, of the story’s futures

−2.1%on the S&P 500, if it happens

The selloff continues as investors conclude that AI revenue expectations were pulled too far forward. Intel’s free-cash-flow warning and Reddit’s AI-data licensing exposure become examples of a broader reassessment of AI valuations.

What it moves

Technology−3.5%
Business Services−1.1%
Market volatility▲ up
Riskier companies' borrowing costs▲ up

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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