AI capex intact despite oil risk; S&P 500 seen at 7,700: Citi’s Drew Pettit
Artificial intelligence (AI) spending plans by major technology companies remain intact despite rising oil prices and geopolitical risks, with near-term investments driven by compute and memory costs rather than energy constraints. He added that chip pricing has had a bigger influence on capital expenditure efficiency. “Chip pricing has been more impactful on capex and how … Read more
