One of the most bizarre beneficiaries of the AI Fad has been the most boring sector on the planet, the Dow Utilities. The elevator pitch was simple; all those NVDA chips are going to need a lot of electricity to power them, so you better buy the companies that sell power. It worked for many months, but I think people are starting to realize they’ve been suckered. A severe fall to that trendline is totally plausible.
