Citrini Says AI Infrastructure Trade’s Most Optimistic Phase Is Over, Shifts to Pair Trades

Cointime reports: Research firm Citrini said the most optimistic expectations for the AI infrastructure trade have passed, with the market entering a late-cycle expansion, on November 5 as U.S. stocks suffered their largest selloff of the year. Citrini reworked its portfolio, switching its AI position from outright long to pair trades and adding four themes: boomer software, alcohol, financials and entertainment. It cited AI ecosystem annualized revenue of about $200 billion against capital expenditure heading to $1 trillion, and more than $10 trillion in cloud giant market value that cannot be funded from cash flow.