AI - Yardeni QuickTakes

June FOMC Minutes Confirm Fed's Hawkish Pivot

Jul 9, 2026 4 min read paid

I. Sentiment The S&P 500 first rose above 7,500 on May 14. It has continued to fluctuate around there since then. This may be a sign that investors are a bit fatigued from all the commotion about the Strait of Hormuz, AI, earnings, Warsh, the Magnificent-7, semiconductors, FOMO, and FEMO so far this year. The market might continue to fluctuate around 7,500 over the rest

Ed Yardeni
Elias Griepentrog

INDUSTRIES: Mag-7 Isn't The Only AI Game In Town

May 9, 2026 4 min read

Since ChatGPT was introduced in late November 2022, the AI trade has been mostly focused on the Magnificent-7, especially the big cloud companies, i.e., the "hyperscalers” (chart). For a while, they were all viewed as AI dominators until DeepSeek was released by a Chinese software company in late January 2025. Increasing confidence that US Large Language Models (LLMs) would remain competitive revived the Mag-7's

Ed Yardeni
Toby Hearst

Thanks For The Memory

Mar 23, 2026 4 min read paid

We are taking a break from the war. We may wait until Friday to update our views on its likely impact on the global economy and financial markets. This morning, President Donald Trump triggered a relief rally in the stock market by postponing his threatened attack on Iran's power plants, scheduled for today, until the end of the week. He added that the US is negotiating with Iran.

Ed Yardeni
Toby Hearst

Will The US Economy Remain Resilient Despite AI Derangement Syndrome?

Feb 26, 2026 4 min read paid

If AI continues to disrupt, if not destroy, more and more business models, won't that cause a recession? It might if it triggers lots of white-collar layoffs, which in turn lead to blue-collar job losses (chart). Alternatively, it might cause a credit crunch in the private credit markets. UBS Group AG has raised its private credit default forecast, with its strategists warning that losses could reach

Ed Yardeni
Toby Hearst

Update On AI Derangement Syndrome & Its Consequences

Feb 25, 2026 3 min read paid

Last year's impressive stock market rally, which began on April 9 (when POTUS postponed his Liberation Day tariffs), was fueled by AI Optimism. It turned into AI Fatigue late last year and, in recent weeks, into AI Fear. Now it's AI Derangement Syndrome. For a while, AI was widely thought of as a productivity-enhancing tool. Now the worry is that it has turned into a

Ed Yardeni

Is AI Frankenstein?

Feb 23, 2026 3 min read paid

The people who've created large language models (LLMs) to power artificial intelligence (AI) are now using them to code better LLMs. If LLMs are now so good at coding that they can create their own better versions, who needs coders anymore? Are the only jobs left in the software industry the ones for LLM prompters? In 5-10 short prompts, they have to tell the LLM what new

Ed Yardeni

MARKET CALL: AI Is Speed Skating On Ice

Feb 15, 2026 4 min read paid

Technological innovations tend to be disruptive and dynamic. That's especially true with AI, which has the potential to disrupt itself, as evidenced by its ability to write software code, including AI code. So it can feed on itself, with the new code eating the old, making it obsolete very quickly. The pace of obsolescence seems to be moving at warp speed for both AI hardware and software, particularly

Ed Yardeni

CODE RED: Altman's Existential Crisis & Trump's Affordability Crisis

Dec 4, 2025 3 min read paid

The stock market has lost its mojo recently. The S&P 500 has been hovering around 6800 since late November. It did recover nicely from a November 20 low of 6538. But the rebound since then has failed to lift the index above the October 29 record high of 6890. It may break out above that high after the FOMC’s December 9-10 meeting if the Fed delivers

Ed Yardeni

Data-Dependent

Nov 19, 2025 3 min read

What do Nvidia and the Fed have in common? They are both data-dependent. Nvidia's GPUs are the latest stage of the Digital Revolution, which started during the mid-1960s with IBM's mainframes. The Digital Revolution is all about processing ever more data, faster and faster, and at ever lower cost. In this context, GPUs are just the latest development in the Digital Revolution. The next

Ed Yardeni

DEEP DIVE: AI's Low-Tech Problem

Nov 12, 2025 5 min read

With lofty valuations in AI-related stocks, it's understandable that investors are on edge about anything that might go wrong. Recently, concerns have centered on the ability to bring new AI data centers online at the volume AI providers require. While funding for construction is flowing, a lack of electricity and permitting — two very low-tech problems — might be the Achilles' heel of this otherwise high-tech

Jackie Doherty
Ed Yardeni

Bad Day For the Big Short, Thanks To Dip Buyers

Nov 10, 2025 2 min read paid

Today was not a good day to be short AI stocks like Nvidia (up 5.8%) and Palantir (8.8%). They both rebounded dramatically, along with other AI stocks following last week's selloff (chart). Investors and traders bought the dip again. It's hard to short stocks in a bull market. The Magnificent-7 rose 2.8% today after falling 3.4% last week. The AI trade

Ed Yardeni

MARKET CALL: From AI Zen To AI Jitters

Nov 9, 2025 3 min read

The S&P 500 peaked at a record high of 6890.59 on October 28 (chart). It is down 2.4% since then. It retested its 50-day moving average on Friday, falling slightly below it around noon. It then closed higher on the day on hopes that a compromise proposal from the Democrats might end the government shutdown. Negotiations are reportedly happening, but they remain tense and far

Ed Yardeni

AI

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