Saxo Market Call One day, is gonna be the day, the K-shape really gets to you
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Nov 12, 2025 Dive into the intriguing K-shaped economy and its long-term implications. Explore market divergences from the recent U.S. holiday and the AI narrative surrounding AMD and NVIDIA earnings. Discover the risks of stranded AI data centers and the speculative moves in tech stocks like Oklo and Rocket Lab. Unpack the complexities of Bitcoin's liquidity signals and ongoing U.S. labor market weaknesses. Plus, get insights on forex trends, political shifts, and unique economic challenges shaping the global landscape.
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Market Rotation And AI Caution
- The market shows rotation with equal-weight S&P up and healthcare and biotech leading while AI names face cautious sentiment.
- Nvidia's upcoming earnings will likely be pivotal for risk appetite and AI positioning.
AI Research Divergence And Stranded Assets
- Jan LeCun leaving Meta highlights deep debate over LLMs versus more efficient, biologically grounded approaches.
- This raises questions about stranded assets from massive AI data center buildouts if current LLM paths falter.
Regulatory Wins Aren't Revenue
- Early-stage clean‑tech firms like Oklo can move on regulatory milestones but still lack operational revenue.
- Market reacts harshly to the gap between promising approvals and actual commercial reactors.
