Here are recent rough notes from the site.
The "Hateful Eight": that's what I have taken to calling the former "Mag 7" megacap tech stocks (plus Oracle) that drove market indices the last two years. They have been a drag on the S&P 500 this year, as investors reconsider their former fondness for said companies' profligate AI cap ex spending.
I write a lot here about the ongoing impact of AI capex on GDP, so this is a handy decomposition of its various components and their GDP-related effects. It's chips, software stacks, and energy/facilities, in that order.
Speaking of noisy AI signals, here is another: The ongoing natural experiment in consumer energy prices around the launch of ChatGPT, and the subsequent massive buildout of energy capacity.
WHile it's early and noisy, it is interesting that unemployment rates in AI-exposed and less exposed occupations are now going in opposite directions.
