Hedge funds cool on chip names as AI hype wanes, marking a fourth straight week of selling
TL;DR Summary
Goldman Sachs data show U.S. hedge funds sold tech hardware for a fourth consecutive week, led by semiconductors, as concerns about AI-spending and delayed returns weighed on the sector. Funds shifted toward index/ETF bets after a string of net-seller days, with last week seeing more stocks sold than bought and notable activity across tech, industrials, and discretionary names; the SOX index fell about 4.2% for the week.
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