Jefferies says the global AI investment cycle may have peaked or entered a mid-cycle correction, citing rising financing costs and doubts over returns on massive capex. The four major hyperscalers raised combined capital spending 108% year-on-year to $202 billion in Q3 2026. Jefferies raised India's weight in its Asia-Pacific ex-Japan portfolio by two points to 14%.
Jefferies Warns AI Investment Cycle May Have Peaked
Source: Economic Times