Greed and Fear report: Christopher Wood sees 'AI fatigue' setting in. Why Jefferies is turning bullish on India

Jefferies Global Head of Equity Strategy Christopher Wood flagged growing AI fatigue in his latest GREED and Fear newsletter, noting investors are rotating from expensive AI momentum stocks to cheaper value names in Asia. Jefferies has turned bullish on India, assigning it a recommended weight of 12 percent in its Asia Pacific ex-Japan allocation versus 10.9 percent in the MSCI AC Asia Pacific ex-Japan benchmark, an overweight of 1.1 percentage points. Wood remains constructive on memory chip makers like DRAM manufacturers and estimates the four major US hyperscalers will spend around 700 billion dollars on capex this year, rising to more than 800 billion dollars next year and exceeding 1 trillion dollars in 2027.