PANews Original | Wall Street’s Next AI Bet Isn’t More Compute. It’s Power, Copper, and ROI AI stocks were hit by a brutal leveraged washout in July, then came roaring back in August, with Marvell gaining nearly 20% in a week. But the rebound looks more like a technical recovery following aggressive deleveraging than the start of another broad-based AI frenzy. Crowded positioning, massive capital raising by Big Tech, and rising inflation and rate-hike expectations driven by higher oil prices had all weighed on valuations across the AI “picks-and-shovels” trade. As enthusiasm cools, Wall Street is beginning to reprice the sector. Capital may now rotate along two paths: toward AI applications that can deliver measurable cost savings, revenue growth, and cash flow, and toward HALO assets, including power generation, electrical grids, copper, liquid cooling, and industrial equipment. The AI trade is shifting from “bigger models and more compute” to “ROI and resource scarcity.” But if downstream monetization falls short, the energy and computing infrastructure built ahead of demand could still face overcapacity and stranded-asset risks. #AI# #AIStocks# #Semiconductors# #WallStreet# #HALO# #DataCenters# #Energy#