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Wait for policy, not political promises on data centres: LPL Financial Group MD on AI selloff

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Wait for policy, not political promises on data centres: LPL Financial Group MD on AI selloff

Business News Tech AI Wait for policy, not political promises on data centres: LPL Financial Group MD on AI selloff

Wait for policy, not political promises on data centres: LPL Financial Group MD on AI selloff

The November 3 US midterm results triggered a sharp repricing of AI and technology stocks, with investors fearing that the gains for Democrats could delay infrastructure expansion underpinning the AI boom. The sell-off intensified on November 5, when the Nasdaq Composite saw its steepest single-day fall in 19 months, plunging 5.52%. Nvidia fell over 9%, AMD 17% and the semiconductor index more than 12%. The Nasdaq 100 lost about $2.5 trillion in market value.

Hyderabad: Investors should wait for political promises about curbing data centre investments in the US to translate into actual policy before drawing conclusions about artificial intelligence trade, Aneri Jambusaria, group managing director at LPL Financial, said in a conversation with ET.The company’s investment leadership is not yet convinced that the AI rally is in bubble territory, said Jambusaria, also the chief wealth officer at LPL

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