Goldman's US High Beta Momentum basket is expected to drop -23% this month, which would be its biggest monthly drop in 17 years. In its steepest month, it dropped as much as -34%. Nvidia, $NVDA, Super Micro Computer, $SMCI, Palantir, $PLTR, D-Wave Quantum, $QBTS, and Navitas Semiconductor, $NVTS are some of the stocks that contribute most to the movements of this basket, which tracks volatile, high-beta momentum names. Additionally, these stocks are among retail investors' favorites. Investors are beginning to wonder if AI hyperscalers are overbuilding their capacity. The most speculative area of the AI market is rapidly coming to an end.
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