Has the AI rally gone too far? | The Breaks of the Game | Goldman Sachs

• The briefing provides a tactical macro assessment of whether the ongoing artificial intelligence equity rally has detached from fundamentals. While extreme indicators of speculative enthusiasm are emerging in specific options and leveraged ETF niches, the primary drivers remain anchored by historic corporate profit margins and an unyielding global capital expenditure boom. It also evaluates the Federal Reserve's trajectory under newly appointed Chair Kevin Warsh, global currency resilience, commodity re-flation, and strategic portfolio hedging.

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1. Equity Markets & The AI Theme [00:00:16]