Deeper AI Reset

31%its chance, of the story’s futures

−1.8%on the S&P 500, if it happens

The market decides the valuation reset is not finished because AI Mode is diluting search ads while capex is still rising. In this path, Alphabet becomes the clearest symbol of a broader investor backlash against expensive generative AI infrastructure.

What it moves

Technology−3.3%
Business Services−0.2%
Riskier companies' borrowing costs▲ up
Market volatility▲ 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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