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Below are some of the most interesting articles, quotes and charts I came across this week. Click here to subscribe to our free weekly newsletter and get this post delivered to your inbox each Saturday morning.

The narrative of a dramatic narrowing in the stock market market into the “Magnificent Seven” has officially reached the mainstream media.

What is less widely appreciated is that the AI arms race driving it is very costly and has yet to show much potential for profit.

In fact, much of the AI hype powering Big Tech stocks may be driven more by financial shenanigans than by genuine economic potential.

From purely a technical perspective, such a significant narrowing within the stock market is anything but bullish.

And if the AI profits don’t soon materialize, it may be difficult to justify the lofty valuations the Big Tech stocks carry today.