Citi: US Midterms May Slow AI Spending, Rotate Flows to India Stocks

Cointime reports: Citi analysts led by Surendra Goyal said the US midterm election results could slow AI spending and push capital toward non-AI assets, potentially benefiting Indian equities. India’s weight in emerging-market portfolios sits near multi-year lows, and Citi estimates each one-percentage-point increase could draw about $12 billion in inflows. The bank raised its December 2027 Nifty 50 target to 28,000 from 26,000, citing earnings growth and lower oil prices.