Chris Wood warns of massive capital destruction in US as China challenges AI boom
- Posted on July 24, 2026
- By Business News Today
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- 1 min read
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Chris Wood warns of massive capital destruction in US as China challenges AI boom
Jefferies strategist Chris Wood warns that the AI infrastructure boom could trigger massive capital destruction as cheaper Chinese open-source models challenge US dominance. With hyperscalers set to spend nearly $1.6 trillion over two years, investors are increasingly questioning whether returns will justify the unprecedented capex and rising debt.
