Christopher Wood of Jefferies warns that the AI trade is showing signs of fatigue as investors seek cheaper value opportunities. With India and China positioned to benefit from a rotation away from crowded AI winners, Wood believes picks-and-shovels companies will continue to outperform amid massive AI capex and uncertain monetisation.
India’s weight in global emerging-market ETFs rises again
India’s weight in major global emerging-market ETFs has begun to recover recently. This rise follows a steady decline over the past year, showing improved performance.
August 25, 2026