It seems as though the mirage around just how much investment AI needs has been shattered, but the big firms haven’t caught on just yet. DeepSeek’s burst onto the scene has thrown uncertainty into the sector and earnings updates haven’t provided the market with the change it desires, as capex continues to ramp up. Arthur Sants unpacks everything investors need to know, and the stocks that are benefitting. Find out more here: https://on.ft.com/3WTLOvW