The Economic Times

Big AI reset ahead? Chris Wood doubts hyperscalers $990 bn capex estimates, highlights Indias reverse AI trade advantage

Jefferies Chris Wood expects the AI investment narrative to face a major reset, questioning whether Meta, Alphabet, Amazon and Microsoft can sustain $990 billion in projected 2027 capex. He also sees Indian IT services as a potential reverse AI trade, with valuations falling even as employment remains resilient.