Closing Bell AI, Memory Trade Takes A Pause 5/12/26
May 12, 2026
Bini Kothari, founder and CEO of Tekne Capital Management, spots Asian semiconductor and AI supply-chain opportunities. Olaolu Aganga, head of portfolio construction at Citi Wealth, outlines portfolio positioning, geographic tilts, and tactical moves like duration and gold. They discuss commodities rally, compute futures and China’s separate AI supply chain. Short, punchy market themes and tradeable areas highlighted.
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AI CapEx Is Spreading Well Beyond Big Tech
- AI spending is broadening beyond core tech into financials, healthcare, robotics, manufacturing and energy infrastructure.
- Olaolu Aganga says earnings expansion is showing AI's reach and that durable earnings justify shifting regional exposure toward the U.S.
Trim Duration And Credit When Rate Cuts Fade
- Reduce duration and shorten credit exposure when rate-cut odds fall and yields rise.
- Olaolu Aganga says Citi Wealth cut duration, trimmed high-yield and EM credit, and moved to higher-quality, shorter-duration bonds.
Copper Rally Signals AI Driven Industrial Demand
- Commodities are rallying on electrification and data center demand with copper and silver surging.
- Strategas and Freeport cite electrification, data centers and grid investment as the demand drivers behind record copper highs.